OECD outlines timetable for reaching agreement on digital taxation of multinationals | WDM

Twitter
Follow us on Twitter
MENU
12
June

OECD outlines timetable for reaching agreement on digital taxation of multinationals

The Organisation for Economic Co-operation and Development (OECD) has outlined a new timetable for reaching an agreement on the digital taxation of multinational businesses.

EU member states have been unable to reach an agreement on plans for an international Digital Services Tax (DST). Consequently, the OECD now plans to introduce a global digital tax framework.

Certain member states have already started to create and implement their own policies, and the European Commission is also seeking to implement an EU-wide DST.

Commenting on the matter, Angel Gurría, Secretary General of the OECD, said: ‘Important progress has been made through the adoption of this new Programme of Work, but there is still a tremendous amount of work to do as we seek to reach, by the end of 2020, a unified, long-term solution to the tax challenges posed by the digitalisation of the economy.’

In regard to domestic plans, the UK’s own DST is set to take effect from 2020. The DST was announced by Chancellor Philip Hammond during the 2018 Autumn Budget, and will apply a 2% tax to the revenues of certain digital businesses.

7 Questions you must ask an accountant
How To Grow your business by 46.4% - Special Free Whitepaper
To get the free whitepaper, simply enter your name and e-mail address below and click the Get FREE Whitepaper button. You will receive an email shortly with your FREE Whitepaper pdf from our team...

Fields marked with an * are required

By submitting this form you agree to receive information via email newsletters about products and services from WDMCA which we think may interest you. You can opt out of receiving these newsletters by clicking the unsubscribe link in newsletters we send.

Download our FREE iPhone app

Testimonials

From the opening of our store to the eventual sale of four stores seventeen years later, WDM have provided invaluable assistance all the way along. They are more than just an accountant to us and we couldn't speak highly enough of them.

Pat McKenna - McDonalds Franchisee
Sign up to our newsletter
Oakfield House, 378 Brandon Street, Motherwell ML1 1XA        t: 01698 250 251        f: 01698 250 261