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OECD publishes the statement following a meeting of 137 countries


				31.01.2020
						

On January 31, 2020, the OECD issued a statement following a meeting of representatives of 137 countries that have already joined the BEPS plan on taxation of profits of international companies in the digital economy.

Countries endorsed the approach that the OECD proposed in October 2019 - to oblige companies to pay taxes in countries where they make a profit, and not just at the place of their physical presence. In the digital age, the distribution of tax rights and taxable profits can no longer be limited solely by reference to physical presence. If the company has a “stable and significant” business in the country, then it should leave part of the income tax in it, even if it works through independent distributors.

At the same time, for small countries where companies conduct business without representative offices, the organization suggests introducing a minimum threshold so that countries can in any case receive a fixed profit from them.

Recall that at the end of 2019, the OECD published Pillar 1 and Pillar 2 documents on the development of a unified approach to solving the problem under discussion.

The final position of the OECD is expected to be formulated by the end of 2020.

Source: http://www.oecd.org/tax/beps/international-community-renews-commitment-to-multilateral-efforts-to-ad...



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