Alessandro Dragonetti, co-managing partner and Head of Tax at Bernoni Grant Thornton, intervened on the Italian magazine Focus Risparmio commenting on the taxation of technology companies, the new business models created with the introduction of the Internet, and the web tax.
“The Twin Towers attack and the implementation of a series of regulations and measures on capital control for anti-terrorism purposes, which led to the abolition of the bank secrecy, have contributed to the boosting of a greater attention by governments towards issues like tax evasion, tax avoidance, and treaty shopping. Therefore, companies have passed from tax planning to planning of the risk related to tax issues” stated Dragonetti. “Internet has transformed business models, creating one in which the tangible aspects have lost relevance compared to intangible ones and making it difficult to identify where profits and revenues are generated”.