Taxation

LATEST NEWS: Close to 140 countries have agreed on a major global tax reform (8 October) and on a detailed implementation plan. This builds on the agreement which G20 finance ministers endorsed on 1 July. Jump to our detailed coverage on the OECD-led tax reform.

What did the scientist Michael Faraday reply to the politician who asked him about the purpose of his newly invented electromagnetic induction? ‘Sir, I do not know what it is good for. But of one thing I am quite certain, some day you will tax it.’

Over the years, the growth of the digital economy – and how to tax it – propelled governments into asking whether existing tax rules are fit for the digital age. The creative tax practices, adopted by some of the largest tech companies, fuelled this question even further, and today, some of the global taxation rules affecting the digital economy are very close to being overhauled.

 

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Dr Stephanie Borg Psaila

Editor, GIP Digital Watch observatory; Director Digital Policy, DiploFoundation

Dr Stephanie Borg Psaila is Diplo's Director for Digital Policy, and the Editor of the GIP Digital Watch observatory. Her areas of interest include legal issues in Internet governance, human rights, and e-diplomacy.