Yesterday evening, Pascal Saint-Amans (Director of the OECD's Centre for Tax Policy and Administration) tweeted confirmation that the OECD has approved an interim report on the taxation of the digital economy. We are expecting full details of the interim report to be discussed in OECD 'Tax Talks' webcast, which will take place on 16 March at 2pm GMT.
The OECD's announcement follows hotly on the heels of the UK government's Spring Statement, which saw the publication of a further discussion paper around the direction of travel that the UK will take on the taxation of the digital economy. In addition, it appears likely that the European Commission will be landing on a revenue-based digital tax, levied at a rate of 3% for large businesses (those with over EUR750m of annual global turnover), subject to a threshold filter of having at least 100,000 users in country.
The next week or so promises to be fascinating in relation to the digital economy – watch this space for our further updates.