PwC comment on the OECD 'Blueprints' on tax digitalisation/globalisation

Commenting on the OECD 'Blueprints' on tax digitalisation/globalisation published on Monday 12 October, Carol Stubbings, PwC Global Tax and Legal Services Leader said: 

“It’s welcome that so many countries, especially during the pandemic, remain committed to seeking a multilateral solution to these important issues. 

“However, with the detailed blueprints, it is clear the differences between many countries will require further time, and compromise, to reach resolution. Much of the complexity in both pillars needs to be addressed, otherwise these proposals could unduly burden countries and taxpayers alike. This could make consistent and coherent implementation impossible, which will frustrate the ultimate goal of achieving a truly multilateral solution. 

“For business leaders and policy makers, the post pandemic taxation mix needs to serve multiple purposes in financing public services, stimulating employment and economic recovery at the same time. That will not be achieved by a tax free-for-all, so business leaders will hope that, pending a multilateral solution, countries will show restraint in any unilateral or uncoordinated long term decisions.

PwC’s global tax briefing on the OECD announcement on Blueprints for Pillar 1 & 2 will take place on Friday 16th October 2020 at 0900 ET / 14.00 BST / 15.00 CET. Please register below.