G20 officials aim for deal on taxing digital firms by 2020-end – Gulf Today

G20 officials aim for deal on taxing digital firms by 2020-end – Gulf Today

Leading world economies must show unity in dealing with aggressive "tax optimisation" by global digital giants like Google, Amazon and Facebook, G20 officials said on Saturday.. The OECD wants to set a minimum effective level at which such companies would be taxed and seeks agreement by the start of July, with an endorsement by the G20 by the end of the year.. Mnuchin said OECD countries were close to an agreement on the minimum tax level, which he said would also go a long way to resolving the issue of where tax is payed.. Mnuchin sought to reassure G20 delegates that a US proposal to add a "safe harbour" regime to the tax reform effort – which has drawn criticism from France and other countries - would not let companies simply opt out of paying taxes..