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French Presidency? offers compromise proposal to Pillar Two directive, countries withhold support
Mar 15,2023
Finance ministers from Sweden, Poland, Malta, and Estonia have withheld their support for the compromise proposal on the Pillar Two draft directive introduced in December 2021. Although the proposed directive still lacks unanimous support, the lack ...
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OECD releases technical advice on Pillar Two's global minimum tax
Mar 14,2023
The OECD has released additional technical guidance on the 15% global minimum tax agreed in October 2021 as part of the Two-Pillar solution to address the tax challenges arising from digitalisation of the economy. The model rules on Pillar Two were ...
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Thailand: Growing debates about tax benefits for Internet infrastructure companies
Mar 14,2023
The Thai private telecom sector has urged the government to implement proposed tax benefits for companies investing in submarine cable infrastructure for the Internet, after the Thai government retracted the proposal. The Thai private sector fears th...
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UK considers revenue tax on tech giants
Mar 13,2023
The British government has announced that it is considering taxing the revenues of Internet companies, at least until international tax regulation is updated that can tackle tax avoidance by the tech sector. UK finance minister, Philip Hammond, said ...
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The US proposes a tax on energy used for cryptocurrency mining
Mar 11,2023
The new 2024 Revenue Proposal in the US will consider the progressive tax on electricity that is used for cryptocurrency mining. The US Department of the Treasure proposed a tax for energy used in mining of any digital asset, and defines digital asse...
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Puerto Rico proposes Internet sales tax
Mar 08,2023
Puerto Rico has published a fiscal plan that includes a number of tax reform measures, aimed at stabilising its revenue and solving budget deficits. One of the proposed reforms is an Internet sales tax. The government of Puerto rico estimat...
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Trump administration in favour of online sales tax
Mar 06,2023
According to the Trump administration, US statesshould be able to collect online sales taxes, supporting an appeal by South Dakota in a case currently considered by the US Supreme Court. The US Department of Justice claims that current e-commerce reg...
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UK Government puts digital tax top priority in trade agreement negotiations with the USA
Mar 02,2023
The UK government has set out it's negotiating objectives to secure a free trade agreement with the USA. The UK Government says that it will put its proposed digital services tax on the table for discussion in upcoming trade talks with the United Sta...
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G20 Finance ministers back G20/OECD to set digital tax by 31 December 2020
Feb 24,2023
Finance ministers and central bank governors from G20 nations met in Riyad (Saudi Arabia) on 22 to 23 February to discuss international digital tax in the context of the challenges arising from the digitalization of the global economy. In a communiqu...
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OECD releases public comments received on Pillar One model draft rules
Feb 22,2023
The OECD has released public comments on the model draft rules for Pillar One. The public consultation closed on 18 February 2022. OECD releases draft Pillar One model rules, opens public consultation Comments said that there was a need for ...
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Singapore introduces tax on imported digital services
Feb 19,2023
Singapore's Finance Minister Heng Swee Keat has announced a goods and services tax on imported digital services, such as 'movie and music streaming services and mobile apps', to come into effect from 1 January 2020. The measure is aimed to create a '...
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The USA Internal Revenue Service named Facebook in a $9 billion tax lawsuit
Feb 18,2023
The USA Internal Revenue Service (IRS) has named Facebook in a$9 billion tax lawsuitclaiming the social media giant owes in excess of$9 billion in taxes by selling its intellectual property to a subsidiary in Ireland. The IRS argues that Facebook has...
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