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Digital Economy — OECD Clarifies Unified Approach

Digital Economy — OECD Clarifies Unified Approach

Canadian companies that conduct business internationally should continue to follow the developing multilateral approach for taxing the digital economy

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Canadian companies that conduct business internationally should continue to follow the developing multilateral approach for taxing the digital economy. As part of its ongoing work to address tax challenges arising from the digital economy, the Organisation for Economic Cooperation and Development (OECD) has released a new outline that revises its previous proposals on a "unified approach" to ensure that certain multinational enterprises pay tax in countries where they have consumer-facing activities but do not have a physical presence. In the new outline, which is endorsed by the Inclusive Framework of 137 countries, the OECD clarifies that the tax regime would apply to automated digital businesses and consumer-facing businesses, among other outstanding issues.

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