EuroCommerce Supports OECD Proposals On Digital Tax Reform
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".
Commenting on the OECD's proposals, EuroCommerce Director-General Christian Verschueren commented, “We have been consistently supportive of the OECD’s efforts to reform and adjust the global taxation system to the challenges of the 21st century. The fiscal environment has significantly changed and today’s proposal is a major step towards a fairer and more modern tax system.
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