Pending decisions by the European Union and more widely than the OECD countries, the Conte government has decided to insert the so-called Web Tax in the financial maneuver. The new heavy tax to the detriment of the Web companies will come into force starting from January 1st next year and promises to yield 600 million euros for the state coffers.
The technical report to the tax law decree connected to the Maneuver describes a tax based on a 3% tax rate to be applied to the turnover of the subjects who generate a total amount of revenues of at least € 750 million and revenues from digital services of no less than € 5.5 million. For the measurement of the thresholds reference will be made to the turnover of the previous year.
It is important to point out that last year's Financial Maneuver also contained a Web Tax (otherwise called "Digital Tax"), but this measure had not been applied in the absence of a dedicated implementation decree. This time the same problem should not occur as the need for a ministerial decree for its application would have been excluded upstream.
As for the technical aspects, the first WebTax will become payable at the end of 2020, while the payment must be made by 16 March of the year following the one for which the tax was calculated. An annual declaration of the services provided subject to Web Tax is expected to be presented by June 30th.
The Web Tax in our local sauce should not be confused with the tax on digital transactions which, despite having been approved in 2017, is not applied, the markets affected by the maneuvering initiative are in the specific case online advertising, the transmission of the data collected through digital platforms and the provision of services through the latter.