EuroCommerce, which represents the retail and wholesale sectors in Europe, has declared its support for proposals by the OECD on tax reform relating to the digitalisation of the marketplace, saying such measures would represent a 'major step' towards a fairer tax system.
Under the proposals, multinational firms, particularly those in the digital space, would be prevented from shifting tax payments to countries in which lower tax rates apply, in what OECD Secretary-General Angel Gurría described as a "consensus-based solution to overhaul the rules-based international tax system".
