Brussels, BELGIUM — Finance ministers from G20 nations have endorsed a global tax reform agreement in a communiqué that concludes their two day meeting in Italy. Final details, including a detailed implementation plan, are expected to be adopted at a G20 leaders’ summit in October.
Last week, the Organisation for Economic Cooperation and Development (OECD) announced the framework of the international tax reform plan negotiated and endorsed by representatives from more than 130 countries.
The Computer & Communications Industry Association has long advocated for consensus-based international tax reform. We are encouraged that a global consensus is within reach, but remain concerned with existing unilateral tax measures, notably digital services taxes, and the EU’s plans to introduce a new digital levy. These are exactly the types of discriminatory taxes, which trigger tax and trade disputes, which the global framework is expected to replace.
The following can be attributed to CCIA Vice President and head of the Brussels office Christian Borggreen:
“The G20’s endorsement is a key step towards ambitious, global tax reform. A new global tax framework for the 21st Century is crucial to ensure legal certainty, for economic recovery and to avoid international tax and trade tensions.”
“We urge nations to immediately remove unilateral digital taxes and levies as foreseen in the global framework.”