The United Nations (UN) has made up its mind to conduct its own research on tax matters of the digitalized economy. This decision was made by the UN Committee of Experts on International Cooperation in Tax Matters on its sixteenth session during May 14 to 17 in New York.
Despite the fact that the OECD had made an announcement in its digital economy taxation interim report in March 2018, according to which a final report is expected to be delivered by 2020, the UN committee points out that it focuses on issues of relevance for developing countries and seeks the alleged UN approach which concentrates more on the impact of developing countries and their capacities in conducting these rules. In this regard, the UN will stop waiting for the OECD final report and start its own works in this area, such as tax policy issues and digitalization of tax administration. In October 2017, the UN committee appointed new subcommittees to conduct its work. It stated that its subcommittee charged with tax matters of the digitalized economy will make full use of the OECD achievements which are relevant for the interest to developing countries, namely the description of new business models included in the OECD interim report.
The Session focuses on collaboration on international tax affairs, including:
With the fast growth of China’s economy and the continuous improvement of the comprehensive strength of domestic enterprises, as well as the implementation of the “One Belt, One Road” policy, an increasing amount of Chinese enterprises are beginning to expand their global footprint and establish their presence in Europe.
TPA Global has developed a practical roadmap of 6 steps meant to guide CFOs in their Journey of rising above troubles to reach a situation of full control. These steps are presented in a series of short video clips (3-5 minutes):