The Digital Single Market is an advanced market model widely discussed but also key to further integration of Europe.
Even though main legislative proposals have been delivered, the European Commission has been still facing the challenges of ensuring the beneficial state of online platforms, fully developing the European Data Economy and protecting the Europe’s assets by enhancing cyber-security. In the years following, additional objectives are to be achieved, such as the elimination of cyber-attacks.
Additionally, the implementation of the Digital Single Market has been connected with adopting a common tax policy within the Member States, a crucial yet difficult goal to be achieved. But, as tax evasion, tax fraud and tax competition will only harm the D.S.M. model and corruption shouldn’t be further escalated within the new, digitalised environment and as new business models have now been widely affecting the global economy, the tax system must be updated as it’s no longer fit for purpose.
The Digital Single Market, despite the obstacles that have and will be met during the procedure of its implementation, has much to offer to both residents of the Member States and businesses. Consumers will have access to a larger variety of content, goods and services from other EU countries and will be able to use the Internet with a better access quality, increased safety and high standards of data protection. Moreover, e-government services will dramatically increase the efficiency of the public sector. As for private businesses, the improved taxation system will be a factor of great importance to their better function. The delivery prices and the overall costs and risks will be reduced and the competitiveness on the global stage will be increased. In a sense, the implementation of the D.S.M. model will assist the European economy to become a healthier and more stable field and will also create a further sense of unity within the residents of EU Members.
By Erofili Smyrniotaki.
