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	<title>oecd &#8211; EFR Technology Group</title>
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		<title>G20 leaders will discuss raising taxes for big tech firms next week</title>
		<link>https://www.efrtechgroup.com/tech/g20-leaders-will-discuss-raising-taxes-for-big-tech-firms-next-week/</link>
		
		<dc:creator><![CDATA[Randall]]></dc:creator>
		<pubDate>Wed, 09 Oct 2019 20:30:00 +0000</pubDate>
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					<description><![CDATA[[ad_1] The finance ministers are scheduled to meet in Washington, where they&#8217;ll review proposals by the Paris-based Organization for Economic Cooperation and Development (OECD) &#8212; the group tasked with overhauling tax rules that date back to the 1920s. The new rules may create a corporate income tax of a few percentage points, which could make [&#8230;]]]></description>
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<p>The finance ministers are scheduled to meet in Washington, where they&#8217;ll review proposals by the Paris-based Organization for Economic Cooperation and Development (OECD) &#8212; the group tasked with overhauling tax rules that date back to the 1920s. The new rules may create a corporate income tax of a few percentage points, which could make <a href="https://www.engadget.com/2014/10/15/ireland-scrapping-tax-deal/">tax havens like Ireland</a> less appealing and benefit countries like the US and France.</p>
<p>Surprisingly, tech companies aren&#8217;t necessarily opposed to the looming changes. Amazon called the OECD proposals an &#8220;important step forward,&#8221; <a href="https://www.reuters.com/article/us-oecd-tax/multinationals-face-heftier-tax-bills-under-oecd-proposals-idUSKBN1WO0VQ"><em>Reuters</em></a> reports. While large firms have used loopholes to evade taxes (Google <a href="https://www.engadget.com/2018/01/02/google-dutch-sandwich-tax-maneuver/">sheltered $19.2 billion</a> in 2016), they&#8217;ve also faced financial uncertainty. Last month, Google was forced to pay France <a href="https://www.engadget.com/2019/09/13/google-1-billion-fine-france/">$1.1 billion</a> because it did not fully declare its tax activities in the country, and after a bit of legal drama, Apple agreed to pay Ireland <a href="https://www.engadget.com/2018/09/19/apple-pays-irish-tax-bill-eu/">$15.4 billion</a> in back taxes, plus interest. The uncertainty also led to a <a href="https://www.engadget.com/2019/08/26/trump-emmanuel-macron-france-digital-services-tax/">brief feud</a> between the Trump Administration and the French Government.</p>
<p>The OECD proposals will outline rules like how much business a company must do in a country to be taxable there and how much profit can be taxed. The companies affected by the new rules would be those with revenue over 750 million euros ($821 million).</p>
<p>After the G20 finance ministers meet in Washington, broader negotiations will begin. The hope is that the 134 countries that originally pushed for reform can reach an agreement in 2020.</p>
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<br /><a href="https://www.engadget.com/2019/10/09/g20-discuss-big-tech-tax-reform/">Source link </a></p>
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