The Organisation for Economic Cooperation and Development (OECD) in October 2019 released for public consultation a document intended to advance international negotiations in an effort to determine that certain “large and highly profitable” multinational enterprises (MNEs)—including digital companies—pay tax wherever they have significant consumer-facing activities and generate their profits.
The OECD consultation document—Secretariat Proposal for a “Unified Approach” under Pillar One—included a proposal for a unified approach that would expedite progress by the Task Force on the Digital Economy and the Inclusive Framework on base erosion and profit shifting (BEPS) toward a consensus on Pillar One of the two-pillar approach being pursued with respect to the broader tax challenges arising from the digitalization of the economy. Read TaxNewsFlash
KPMG tax professionals today submitted their comments to the OECD with regard to the Pillar One approach. Read the KPMG comment letter [PDF 130 KB]
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