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Global Watchdog Proposes Tax Overhaul For Big Tech
AppleMagazine
|October 16, 2020
A global economic watchdog this week proposed an overhaul of international tax rules to make sure big tech companies pay their dues and warned that failure to adopt it would make the economic recovery from COVID-19 harder.
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The Paris-based Organization for Economic Cooperation and Development, which advises the world’s top economies, said its global tax overhaul framework will be presented to Group of 20 finance ministers meeting this week and could be implemented by mid-2021 if an agreement is reached. The group estimated the measures could raise an extra $100 billion in corporate tax revenues annually.
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