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.

05 Jun 2019

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 GurrĂ­a, 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.

Quick Links

Home | Contact us | Accessibility | Disclaimer | Help | Site map |

© 2019 Blue Spire Limited. All rights reserved.

We use cookies on this website, you can find more information about cookies here.

Contact Chichester Office

Tel: +44 (0)1243 781234
Fax: +44 (0)1243 791770
Email: chichester@bluespiregroup.com


Contact Brighton Office

Tel: +44 (0)1273 739533
Fax: +44 (0)1273 732844
Email: brighton@bluespiregroup.com

Chichester Address
Cawley Priory, South Pallant, Chichester, West Sussex PO19 1SY

Brighton Address
5th Floor Intergen House, 65-67 Western Road, Hove, East Sussex BN3 2JQ

Blue Spire Limited is Registered to carry out audit work in the UK and Ireland and regulated for a range of investment business activities by the Institute of Chartered Accountants in England and Wales C004152645. Professional indemnity insurance is provided by Royal & Sun Alliance Insurance Plc 9th Floor, One Plantation Place, 30 Fenchurch Street, London, EC3M 3BD and its territorial coverage is worldwide (excluding United States/Canada).
Blue Spire Financial Planning Limited is authorised and regulated by the Financial Conduct Authority. FSA register https://www.fca.org.uk/register reference 566257. This guidance and/or advice contained within this website is subject to the UK regulatory regime, and is therefore targeted at customers based in the UK