The Resource A primer on the OECD's "unified approach" for taxing digital and non-digital companies
A primer on the OECD's "unified approach" for taxing digital and non-digital companies
Resource Information
The item A primer on the OECD's "unified approach" for taxing digital and non-digital companies represents a specific, individual, material embodiment of a distinct intellectual or artistic creation found in International Bureau of Fiscal Documentation.This item is available to borrow from 1 library branch.
Resource Information
The item A primer on the OECD's "unified approach" for taxing digital and non-digital companies represents a specific, individual, material embodiment of a distinct intellectual or artistic creation found in International Bureau of Fiscal Documentation.
This item is available to borrow from 1 library branch.
- Summary
- Work currently underway at the OECD seeks to dramatically change the existing international tax framework, which has supported international commerce for more than a century, to address perceived challenges associated with the "digitalization of the economy". Guided by a "Programme of Work" published by the OECD in May 2019, discussions are proceeding under two "pillars". The goal of the Pillar 1 workstream is to develop new rules that would supersede results under the arm's length principle and allocate greater taxing rights to market countries, i.e., the countries where a business' consumers and users reside. The Pillar 2 workstream seeks to develop rules, similar in some regards to the U.S. GILTI and BEAT regimes, that would effectively establish a global minimum tax regime. The United States has strongly supported the work under both pillars, making it highly likely that countries will reach a consensus agreement by the G20-established deadline of the end of 2020. On October 9, the OECD Secretariat published a "Unified Approach" that, while not a consensus document, outlines a proposal that the Secretariat believes can form the basis for consensus under Pillar 1. The use of the word "unified" reflects that the Programme of Work had previously laid out three alternative approaches - a residual profit split approach, a "distribution-based approach", and a fractional apportionment approach - for development under Pillar 1. The Unified Approach ostensibly incorporates elements of all three approaches and would change existing rules regarding when a business is considered to have a taxable nexus in a market jurisdiction, as well as rules for attributing taxable income to such a taxable nexus
- Language
-
- eng
- eng
- Label
- A primer on the OECD's "unified approach" for taxing digital and non-digital companies
- Title
- A primer on the OECD's "unified approach" for taxing digital and non-digital companies
- Language
-
- eng
- eng
- Summary
- Work currently underway at the OECD seeks to dramatically change the existing international tax framework, which has supported international commerce for more than a century, to address perceived challenges associated with the "digitalization of the economy". Guided by a "Programme of Work" published by the OECD in May 2019, discussions are proceeding under two "pillars". The goal of the Pillar 1 workstream is to develop new rules that would supersede results under the arm's length principle and allocate greater taxing rights to market countries, i.e., the countries where a business' consumers and users reside. The Pillar 2 workstream seeks to develop rules, similar in some regards to the U.S. GILTI and BEAT regimes, that would effectively establish a global minimum tax regime. The United States has strongly supported the work under both pillars, making it highly likely that countries will reach a consensus agreement by the G20-established deadline of the end of 2020. On October 9, the OECD Secretariat published a "Unified Approach" that, while not a consensus document, outlines a proposal that the Secretariat believes can form the basis for consensus under Pillar 1. The use of the word "unified" reflects that the Programme of Work had previously laid out three alternative approaches - a residual profit split approach, a "distribution-based approach", and a fractional apportionment approach - for development under Pillar 1. The Unified Approach ostensibly incorporates elements of all three approaches and would change existing rules regarding when a business is considered to have a taxable nexus in a market jurisdiction, as well as rules for attributing taxable income to such a taxable nexus
- Citation source
- In: International tax journal. - Riverwoods. - Vol. 45 (2019), no. 6 (November-December) ; 5 p
- http://library.link/vocab/creatorName
- Jenn, B.H
- Geographic coverage
- International
- Language note
- English
- http://library.link/vocab/subjectName
-
- Unified Approach (OECD)
- Pillar 1 (OECD)
- Pillar 2 (OECD)
- digital economy
- nexus
- Label
- A primer on the OECD's "unified approach" for taxing digital and non-digital companies
- Note
- 20200207
- Label
- A primer on the OECD's "unified approach" for taxing digital and non-digital companies
- Note
- 20200207
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<div class="citation" vocab="http://schema.org/"><i class="fa fa-external-link-square fa-fw"></i> Data from <span resource="http://link.library.ibfd.org/portal/A-primer-on-the-OECDs-unified-approach-for/7Xy3ktXv7dc/" typeof="Book http://bibfra.me/vocab/lite/Item"><span property="name http://bibfra.me/vocab/lite/label"><a href="http://link.library.ibfd.org/portal/A-primer-on-the-OECDs-unified-approach-for/7Xy3ktXv7dc/">A primer on the OECD's "unified approach" for taxing digital and non-digital companies</a></span> - <span property="potentialAction" typeOf="OrganizeAction"><span property="agent" typeof="LibrarySystem http://library.link/vocab/LibrarySystem" resource="http://link.library.ibfd.org/"><span property="name http://bibfra.me/vocab/lite/label"><a property="url" href="http://link.library.ibfd.org/">International Bureau of Fiscal Documentation</a></span></span></span></span></div>
