The Inclusive Framework has published the text of a new multilateral convention to co-ordinate the reallocation of taxing rights to market jurisdictions, improve tax certainty, and remove digital service taxes (implementation of Amount A under Pillar One).
The OECD reports that the text of the convention ‘reflects the consensus achieved so far among members’ on the technical architecture of Amount A, ‘with different views on a handful of specific items noted in footnotes by a small number of jurisdictions’.
Mathias Cormann, OECD Secretary-General, said: ‘The text of the Multilateral Convention released today provides governments with the basis for the co-ordinated implementation of this fundamental reform to the international tax system and represents significant progress towards opening the convention for signature. Countries now have the means to swiftly move forward with the steps necessary to secure signature and ratification, and we are ramping up our support for developing countries, to ensure we can deliver on our goal of making the international tax system fairer and work better in the digitalised world.’
The OECD covers recent developments in its 16 October 2023 ‘Tax Talks’.
The Inclusive Framework has published the text of a new multilateral convention to co-ordinate the reallocation of taxing rights to market jurisdictions, improve tax certainty, and remove digital service taxes (implementation of Amount A under Pillar One).
The OECD reports that the text of the convention ‘reflects the consensus achieved so far among members’ on the technical architecture of Amount A, ‘with different views on a handful of specific items noted in footnotes by a small number of jurisdictions’.
Mathias Cormann, OECD Secretary-General, said: ‘The text of the Multilateral Convention released today provides governments with the basis for the co-ordinated implementation of this fundamental reform to the international tax system and represents significant progress towards opening the convention for signature. Countries now have the means to swiftly move forward with the steps necessary to secure signature and ratification, and we are ramping up our support for developing countries, to ensure we can deliver on our goal of making the international tax system fairer and work better in the digitalised world.’
The OECD covers recent developments in its 16 October 2023 ‘Tax Talks’.
