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OECD and technology giants advance in global digital tax

The Organization for Economic Cooperation and Development (OECD) continues to make progress in Paris in finding an agreement with the world's leading technology companies, in the consensus of a single, regulated tax rate that is fair for the digital services they provide.

As companies such as Facebook, Google, Netflix, Amazon, Apple and many more, they will have to pay a tax rate that should take effect during 2020.

The 137 countries participating in the meeting stated in their minutes that "we are committed to reaching an agreement on a solution agreed by the end of 2020", in tax matters.

Pascal Saint-Amans, director of tax administration of the OECD, referred to some of the points discussed, especially how to balance the balance when there are disputes between the United States and France in this matter.

β€œI think we have made progress, it is something that I get paid to say, but I believe it. The agreement on the scope does not exist three months ago. . . The prospect of trade wars unleashed by fiscal disputes is clearly pushing countries to commit.

At the meeting it was established, for example, that this tax unification should not only be for technology companies, but also for other multinationals.

As the Financial Times comments, β€œThe OECD also commended the new justification of corporate taxes that it proposes in which a proportion of the profits of the richest international companies would be allocated to individual countries based on where they had clients. They cannot move, he added, so it will greatly reduce the ease of tax evasion. ”

Now comes the complicated part of the agreement, since the OECD must negotiate with the United States for the so-called Safe Harbor, a regime that will allow large technology companies to avoid global rules and transform these responsibilities into volunteers.

"I think the chances of success will be very low, extremely low or almost nil," said Saint-Amans about the chances that the agreement will survive in case they don't have the explicit support of the Donald Trump government.

For now, several countries discuss in particular the tax rates for technology platforms.

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