Europe’s digital economy is growing at 10 percent a year—significantly faster than the economy as a whole—and already accounts for almost 5 percent of GDP, or nearly €600 billion. the digital European economy Commission DG TAXUD. After all, reaping the full benefits of technological innovation requires maintaining an open digital economy in which investments can flow freely. The strategy of digital economy is included in a wider strategy for the future of Europe. But as often as not, the strongest motivation is the feeling that On March 21, 2018, the European Commission issued several proposals on a Fair and Effective Tax System in the EU for the Digital Single Market, including a Directive proposal on a Digital Services Tax, a Directive proposal on the introduction of a digital permanent establishment concept, and Recommendations to Member States to implement this concept in their double tax treaties. Digital economy. The digital economy shows the country’s status in terms of technologies, the size of digital markets as well as their future development. The U.K.’s Internet economy (€175 billion) represents close to 10 percent of GDP, led by a strong e-commerce sector. Whereas American-style techno-libertarianism and Chinese digital authoritarianism have both come up short, the European Union's regulatory approach has emerged as a global gold standard. Europe is not home to any of the major tech firms, but it shapes digital governance worldwide, owing to the size and attractiveness of its market. While many have recognized the digital prowess of countries like China, the potential for growth in one vast region remains woefully unrecognized—Eastern Europe and the former Soviet Union (EE/FSU).. The rise of the global digital economy continues to rapidly evolve. Inadequate tax rules for the digital economy Difficulty to tax/ opportunities for tax avoidance Less revenue for public budgets/negative impact on social fairness Current tax rules Taxation based on physical presence Profit attribution based on … However, as explained on the EC's website, the aim to become a global role model for the digital economy fit within the EU's goals for decades, as it is the aim in the environmental field. Europe is hardly homogenous, of course. The EU needs to unlock the full potential of the data economy, platform economy, artificial intelligence and other emerging technologies for achieving sustainable economic growth, ensuring a high level of employment and combating climate change. The full economic and societal benefits of digital need to be fully realised. There will be a role … Europe: The revenue share of amounts to 0 in 2020. The role of such initiatives is neither to come up with bold ideas nor to be a hub for frontrunners but to build a coalition for a digital economy in Europe that is open and supports the economic integration that many countries have already achieved. The digital economy is the economy in terms of computing technologies, and it is fueled by tech businesses and its employees. Technology will offer EU businesses new opportunities to close the gap with their competitors at global level. By closing the digital gap with Northern and Western Europe, CEE could earn up to €200 billion in additional GDP by 2025—a gain almost the size of Portugal’s entire economy in 2017. 6 In this aspirational scenario, the region’s digital economy would grow to represent 16 percent of GDP by 2025. Digital transformation is one of the cornerstones of European success in international competition. The success of Europe’s digital decade will require the EU to forge strong alliances and working relationships with likeminded countries, both bilaterally and multilaterally. Digital is crucial to ensure Europe’s competitive advantage in the global economy and deliver growth and jobs.
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