TaxSource Total

Here you can access summary of the key current tax developments in Ireland, the UK and internationally as reported by Chartered Accountants Ireland

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OECD publishes its plan to deal with tax challenges in the digital economy

The OECD released a report titled Interim Report on the Tax Challenges Arising from Digitalisation.

According to the OECD, its latest report lays the ground to move forward at OECD-level towards a long-term multilateral solution to tax challenges presented by the digital economy. “The international community has taken an important step today towards resolving the tax challenges posed by the digitalisation of the economy,” said OECD Secretary-General Angel Gurría. “We have underlined the complexity of the issues, and highlighted the importance of reaching international agreement, both for our economies and the future of the rules-based system. The OECD stands ready to accompany countries as they seek to build a common understanding of the issues related to the digital economy and taxation, as well as the long-term solutions.”

Members of the OECD/G20 Inclusive Framework on BEPS will work towards a consensus-based solution by 2020 have committed to work towards a consensus-based solution to tax challenges of the digital economy, according to the OECD, by 2020.