 "EU Economic Affairs Commissioner Pierre Moscovici has said the plan he will announce on Wednesday will “create a consensus and an electroshock” on taxing digital firms. Photo: Reuters")
Some 110 countries have agreed to work towards forming an international consensus by 2020 on how to tax digital businesses across borders, the Organisation for Economic Cooperation and Development (OECD) said on Friday.
Big digital companies like Google, Apple and Amazon have for years been able to exploit current rules to legally slash their tax bills in some countries, leaving other governments furious.
In a report commissioned by G20 powers, the OECD said the countries had agreed to review decades-old pillars of the international tax system that the digital economy has increasingly rendered out of date.
The
Big digital companies like Google, Apple and Amazon have for years been able to exploit current rules to legally slash their tax bills in some countries, leaving other governments furious.
In a report commissioned by G20 powers, the OECD said the countries had agreed to review decades-old pillars of the international tax system that the digital economy has increasingly rendered out of date.
The
