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OECD announces multilateral efforts to address tax challenges from digitalisation of the economy

Via IEU Monitoring - Source: OECD
Today the OECD Secretariat published a proposal to advance international negotiations to ensure large and highly profitable Multinational Enterprises, including digital companies, pay tax wherever they have significant consumer-facing activities and generate their profits.
The new OECD proposal brings together common elements of three competing proposals from member countries of the OECD/G20 Inclusive Framework on BEPS, which groups 134 countries and jurisdictions on an equal footing for multilateral negotiation of international tax rules, making them fit for purpose for the global economy of the 21st Century.
The proposal, which is now open to a public consultation process, would re-allocate some profits and corresponding taxing rights to countries and jurisdictions where MNEs have their markets.  It would ensure that MNEs conducting significant business in places where they do not have a physical presence be taxed in such jurisdictions, through the cre…