The Organisation for Economic Cooperation and Development (OECD) today issued a release reporting that delegates from over 100 jurisdictions, including regional and international organisations, have unanimously endorsed new rules that will ensure the collection of additional value added tax / goods and services tax (VAT/GST) revenues.
As noted in the OECD release, at a Melbourne, Australia meeting, approximately 300 participants attending the Global Forum on VAT welcomed measures proposed in a new report by the OECD on The Role of Digital Platforms in the Collection of VAT/GST on Online Sales [PDF 2.2 MB]. The report includes:
This new report builds on the solutions for the effective collection of VAT on digital sales included in the base erosion and profit shifting (BEPS) Action 1.
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