The OECD Inclusive Framework on BEPS held a public meeting on its ongoing work on 27 and 28 January 2021, where finance ministers reiterated their determination to reach an agreement on taxing international digital activity. The Inclusive Framework still intends to reach agreement on the proposals before the G20 finance ministers meet on 9 and 10 July 2021.
Chancellor Rishi Sunak stated that the UK plans to withdraw its digital services tax (DST) once a global agreement is reached. In relation to the blueprints he stated that the UK’s priority lies with the proposals in pillar one, although he also recognised that this will not be the case for other countries, and that they will need to accommodate each other in order to find a consensus-based solution.
The OECD Inclusive Framework on BEPS held a public meeting on its ongoing work on 27 and 28 January 2021, where finance ministers reiterated their determination to reach an agreement on taxing international digital activity. The Inclusive Framework still intends to reach agreement on the proposals before the G20 finance ministers meet on 9 and 10 July 2021.
Chancellor Rishi Sunak stated that the UK plans to withdraw its digital services tax (DST) once a global agreement is reached. In relation to the blueprints he stated that the UK’s priority lies with the proposals in pillar one, although he also recognised that this will not be the case for other countries, and that they will need to accommodate each other in order to find a consensus-based solution.
