The document is the first pillar of a two pillar overhaul of rules for the cross-border taxation of multinational companies.
) published a multilateral treaty on Wednesday that would replace a hotchpotch of national digital services taxes if ratified by enough countries.
The document is the first pillar of a two pillar overhaul of rules for the cross-border taxation of multinational companies, which was agreed in 2021 by nearly 140 countries but whose implementation is proving slow and complicated.
The Paris-based OECD estimates the reallocation will yield additional global tax revenue of between $17-billion and $32-billion, with low and middle-income countries gaining the most. Washington is particularly sensitive to that issue as many of such taxes were put in place to target big US digital companies such as Google, Amazon and Apple.To enter into force, the 30 countries home to at least 60% of the affected multinational companies have to ratify the treaty, which means that the US has to be on board.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Vodacom parent embraces Open RAN technology - TechCentralVodafone Group said it has had made its first 4G calls using Open RAN as it invests in chipsets with Intel.
Read more »
Rica is changing but South Africans' privacy is still at risk - TechCentralParliament was given three years to pass a new law remedying the unconstitutionality in Rica. That deadline is fast approaching.
Read more »
Mteto Nyati to chair Eskom board on interim basis - TechCentralEskom chairman Mpho Makwana will step down at the end of the month and will be replaced in the role by Mteto Nyati.
Read more »
How Hamas outmanoeuvred Israel's surveillance prowess - TechCentralFacing one of the most sophisticated surveillance states on the planet, Hamas simply went dark.
Read more »
Mteto Nyati to chair Eskom board - TechCentralEskom chairman Mpho Makwana will step down at the end of the month and will be replaced in the role by Mteto Nyati.
Read more »
Chip glut weighs heavily on Samsung - TechCentralSamsung Electronics' third-quarter profit is expected to drop by 80% from a year earlier.
Read more »