Original article by Tom McIlroy
The Australian Financial Review – Page: 3 : 6-Jan-20
The OECD and the Group of 20 are heading an initiative to re-write international tax laws to cope with the digital age. The proposed system could include an effective minimum rate of global tax and the adoption of new global allocation rules. Some countries have sought to act unilaterally in the adoption of digital services taxes on US digital companies like Google and Facebook, but the Trump administration has sought to ‘punish’ such countries by the imposition of tariffs. There are hopes a new international tax system could be in place by the end of 2020, but some tax experts have their doubts.
ORGANISATION FOR ECONOMIC CO-OPERATION AND DEVELOPMENT, GROUP OF TWENTY (G-20), FACEBOOK INCORPORATED, GOOGLE INCORPORATED