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Digital tax - OECD to discuss blueprints on Thursday
By TII News Services
Jan 11, 2021 , Paris

    

AS part of the ongoing work to develop a solution to the tax challenges of the digitalisation of the economy, the Organisation for Economic Cooperation and Development (OECD) said they will hold public consultation meetings on the Reports on Pillar One and Pillar Two Blueprint.

The two blueprint reports are going to be discussed on 14-15 January via a Zoom meeting which will also be live streamed.

"This public consultation meeting will focus on the key questions identified in the consultation document and raised in the written submissions received as part of the consultation process," said the OECD.

The reports are being considered by the OECD/G20 Inclusive Framework on BEPS - a 137-nation coalition which is trying to reach a common agreement on a new set of international tax rules for multinational groups.

The Pillar One proposal seek to allocate a multinational group's profit and related taxing rights among nations so that more tax is owed in countries where the company's customers reside. The Pillar Two proposal provides for a minimum tax on a multinational group's profits to prevent tax avoidance.

When the organisation welcomed public inputs, they received written submissions spanning over 3,500 pages from over 270 contributors, such as Amazon, Microsoft and trade associations like Oxfam.

The goal of the consultations is to agree to a new international tax scheme that is better suited to taxing companies engaged in the digital economy, the OECD said.

 
 
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