Brussels, BELGIUM – Negotiators from over 130 countries are expected to work out the blueprint on global tax reform through the Organization for Economic Cooperation and Development (OECD) Friday. The breakthrough comes after years of work to update the international tax system to the 21st Century.
The agreement includes a minimum corporate tax rate with the largest corporations additionally paying taxes in all jurisdictions in which they operate.
The Computer & Communications Industry Association has for years supported a review of the international tax framework. Last year CCIA offered comments supporting the OECD process.
The following can be attributed to CCIA Vice President and Head of office Christian Borggreen:
“We are encouraged that countries are on the brink of agreeing to update the international tax rules for the 21st century. We remain supportive of a global consensus which should include a commitment to roll-back existing digital taxes and to avoid new discriminatory, unilateral measures.”
“It would be extremely counterproductive for Canada and other countries to implement a national DST shortly after a long-awaited multilateral solution is reached. Countries should instead focus efforts on the implementation of a long-lasting solution to corporate tax reform.”
“Many important details remain to be agreed but we stand ready to support the crucial next phase of implementation to ensure its success.”