The package "on the taxation of multinationals is made up of two pillars that must go together. I believe that 2024 is the decisive year to close this agreement, also because, above all, the United States is in an election year and we must seize the current opportunity of good cooperation with the Biden administration."
Thus the European Commissioner for Economy,
Paolo Gentiloni
, in an interview with ANSA, underlining the importance of the commitment that emerged at the G20 "to sign the multilateral convention on pillar one" on the reallocation of the profits of multinationals with incomes exceeding 20 billion dollars in the countries where they create profit and not where they have their registered office.
"The extra profits accrued from frozen Russian assets can be separated and used. The EU Council has already decided to separate them and the European Commission will make a proposal to the Council to use them - explained Gentiloni, on the sidelines of the G20 in Sao Paulo -. We are talking about 3-4 billion per year, so not an insignificant figure. Taking into account that the EU's economic support to Ukraine is around 18 billion per year, having four more means 25% more".
"If we look at the map of European growth we see that the contribution of the fiscal space created by common funds and investments is very clear. The differences between European countries have not increased and recession has been avoided, but now we need to put some strength into European engine".
"Everyone rightly speaks positively about the fact that the world economy is heading towards a 'soft landing', but as I said in one of these meetings, a 'safe take off' would also be needed, because there is a need to give a push to the economy especially in Europe, where activity is still very limited".
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