The OECD's proposal includes new rules on where tax should be paid and on the proportion of their profits that should be taxed in each country.
The OECD is an organisation whose members are mainly rich countries, although its work on corporate tax brings in a much wider group, a total of 134 countries and jurisdictions.
The OECD proposals would need to be agreed by governments to come into force. The international organisation has launched a public consultation.
The Organization for Economic Cooperation and Development proposed a “unified approach” to countries haggling over how to allocate taxing rights.
It merges competing proposals that had divided countries, with some wanting to single out digital companies and others aiming at a broader target.
The compromise put forward Wednesday is just one element in a negotiation that Group of 20 economies say they aim to conclude by the end of 2020. To meet that, the OECD said there’ll need to be agreement on its unified approach by January.
Submitted October 09, 2019 at 09:28PM by wanmoar https://ift.tt/2oktcYW
