OECD: Global tax reporting framework for digital platforms

OECD: Global tax reporting framework, digital platforms

The OECD released a new global tax reporting framework for digital platforms

1000

The tax reporting framework—Model Rules for Reporting by Platform Operators with respect to Sellers in the Sharing and Gig Economy—is designed to help taxpayers in being compliant with their tax obligations, while providing a “level-playing field with traditional businesses” in key sectors of the sharing and gig economy.

The framework seeks to avoid “a proliferation of different and unilateral reporting regimes” and to allow for the use of novel technology solutions and help create a sustainable environment supporting the growth of the digital economy.

As noted in an OECD release, with the digitalisation of the economy, transactions that take place on platforms may not always be reported to tax administrations, and the platform economy also means increased access to information for tax administrations, as it brings activities previously carried out in the informal cash economy onto digital platforms.

The framework is part of a broader strategy of the OECD to address the tax challenges arising from the digitalisation of the economy and is designed to serve as a basis for further policy developments in increasing tax transparency to create a stable environment for the growth of the digital economy. 

© 2022 KPMG LLP, a Delaware limited liability partnership and a member firm of the KPMG global organization of independent member firms affiliated with KPMG International Limited, a private English company limited by guarantee. All rights reserved.


For more detail about the structure of the KPMG global organization please visit https://home.kpmg/governance.

The KPMG name and logo are trademarks used under license by the independent member firms of the KPMG global organization. KPMG International Limited is a private English company limited by guarantee and does not provide services to clients. No member firm has any authority to obligate or bind KPMG International or any other member firm vis-à-vis third parties, nor does KPMG International have any such authority to obligate or bind any member firm. The information contained herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation. For more information, contact KPMG's Federal Tax Legislative and Regulatory Services Group at: + 1 202 533 4366, 1801 K Street NW, Washington, DC 20006.

Connect with us

 

Want to do business with KPMG?

 

loading image Request for proposal