BEPS 2.0 Update: A new tax system for the digital era
On October 9th, 2019, a consultation document was published by the Organization for Economic Cooperation and Development (OECD) with a proposal for a global solution based on the first pillar (Pillar 1). This Pillar 1 focuses on taxation for the digital economy. As a result, the roundtable session ‘BEPS 2.0 Update’ took place on October 24th, 2019, at KPMG Meijburg & Co. A report has been made of this roundtable meeting. This report contains interesting findings with feedback on the OECD consultation document.
Two pillars
In recent years, the discussion about a tax system revision has focused on taxation of profits from large international corporations. One of the objectives of the OECD is to find a global solution to the challenges of digitization in 2020. A work plan has been drawn up with the countries in the so-called 'Inclusive Framework'. This work plan consists of two pillars, the first pillar (Pillar 1) is focusing on taxation for the digital economy and the second pillar (Pillar 2) on a global minimum profit tax.
What do these developments mean for the international business? What impact can be expected for multinationals? What can be done to be prepared for this? Read more in the report of the roundtable meeting.
Roundtable session April
In April we are organizing a roundtable meeting on the latest OECD developments, in particular around Pillar 2, and what these developments mean for tech companies and multinationals. Interested? You can pre-register via this link. You will then receive an invitation in due course.
Information
Would you like to know more about the OECD and BEPS developments and what these mean for your business? Please feel free to contact your designated contact at KPMG Meijburg & Co or one of our specialists: Robert van der Jagt, Jaap Reyneveld, Vinod Kalloe, Sinan Gelici or Charlotte Straatman.
