The Swiss Government has cautioned European Union (EU) member countries on the introduction of short-term measures targeted at tackling the problems of taxing the digital economy.
A news report sourced from Tax-News.com quoted the Swiss Government as saying that it had made clear during this week’s meeting of G20 finance ministers and central bank governors that the digital economy should be appropriately taxed.
As a fiscal alternative, the Government recommended that the existing tax rules and possible options for reform should be discussed in the OECD.
It stressed the various governments should avoid the introduction of short-term measures that in order to guarantee legal certainty, avoid over- and double taxation, and to combat high administrative burdens.
The Swiss Finance Minister, Ueli Maurer, who disclosed the government’s position during the summit, also set out his views on crypto capital.
The minister emphasized that crypto capital posed risks associated with money laundering, terrorist financing, and investor protection.
Maurer explained that Switzerland supported multilateral efforts in these areas, and would like to see the Financial Action Task Force prioritize work on the links between crypto capital and money laundering and terrorist financing.