OECD provides further update on plans for taxation of the digitalized economy

The OECD has reaffirmed its commitment to reaching a consensus-based long-term solution to the tax challenges arising from the digitalisation of the economy.

The Organisation for Economic Cooperation and Development (OECD) Secretariat confirmed on Friday that the Inclusive Framework of more than 130 countries has agreed that the Unified Approach on Pillar One (the allocation between jurisdictions of taxing rights over the profits of certain multinational enterprises), is intended to apply to automated digital businesses and also to consumer-facing businesses.The OECD aims to release a final report on the technical details of the solution under Pil...

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Authors: Grant Wardell-Johnson, Andy Hutt

Published Date: 03 February 2020