Trade Tensions Likely As OECD Fails To Get Digital Tax Deal

Law360, London (October 12, 2020, 11:18 AM BST) -- Reforms to the international taxation system to adapt to new digital business models have been pushed back to mid-2021 after negotiators failed to agree on a worldwide minimum tax, the organization leading negotiations said Monday.

The Organisation for Economic Cooperation and Development pointed to logistical complications arising from the COVID-19 pandemic and remaining differences between key member countries of the OECD as the reason for the delay.

"We agree to swiftly address the remaining issues with a view to bringing the process to a successful conclusion by mid-2021," the 137 countries involved in negotiations said in a joint statement.

The OECD has...

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