EU Commitee Says Tax System Unfit For Digital Economy

The European Economic and Social Committee said that European tax rules haven’t adapted to fit the current digital economy. The EESC held a debate on how to adapt tax rules to the digital economy on the 5th of May. The keyspeaker Rita de la Feria a Professor of Tax Law at the University of Leeds, said: “The digital economy is no longer a part of the economy, but is becoming the actual economy itself. Either we continue to fit reality in our law, patch measures, or try to adapt our rules and laws especially in areas of fraud, and offer prosperity to our people.” In her presentation, she highlighted the cost of fraud to countries revenue, how organized crime is “subsidized,” and what the impact of non-compliance on taxpayer confidence is