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International review for February 2021

Recent developments that matter from around the globe, reported by Tim Sarson (KPMG).

Taxation of the digital economy

While the OECD continues its work on a global solution to taxation to the digital economy February saw Poland join the ranks of countries proposing and implementing a unilateral digital services tax in the form of a new advertising levy. Proceeds from the levy will be used to mitigate the long-term health economic and social effects of covid-19. Interestingly Poland’s levy will also apply to traditional advertising which perhaps makes it more akin to a windfall tax. It will be interesting to see whether other countries follow suit with similar taxes as governments seek to claw back their spending on covid-19 support packages.

According to the proposals for online advertisers in Poland a 5% levy would apply if revenues of the service provider (including group entities) wherever...

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