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International community addresses tax challenges that occur from digitalisation of the economy

4 mins read

The FINANCIAL — The international community has made substantial progress towards reaching a consensus-based long-term solution to the tax challenges arising from the digitalisation of the economy, and agreed to keep working towards an agreement by mid-2021, according to a Statement released today. The OECD/G20 Inclusive Framework on BEPS, which groups 137 countries and jurisdictions on an equal footing for multilateral negotiation of international tax rules, agreed during its 8-9 October meeting that the two-pillar approach they have been developing since 2019 provides a solid foundation for a future agreement. Recognising that the negotiations have been slowed by both the COVID-19 pandemic and political…

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International community addresses tax challenges that occur from digitalisation of the economy

4 mins read

The FINANCIAL — The international community has made substantial progress towards reaching a consensus-based long-term solution to the tax challenges arising from the digitalisation of the economy, and agreed to keep working towards an agreement by mid-2021, according to a Statement released today. The OECD/G20 Inclusive Framework on BEPS, which groups 137 countries and jurisdictions on an equal footing…