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Principles Matter in Digital Economy Tax Debate, Panellists Say

Discussing the OECD’s efforts to find a global solution to tax the digital economy, tax professionals stressed the importance of establishing agreed principles and finding the right balance between simplicity and accuracy.

There is a debate between countries saying “you have to have a principle here, because everything else then hangs on the principle,” and others that advocate for work on an agreed solution because they “could never agree” on the principle, Mike Williams, director of business and international tax at HM Treasury, said during a July 5 conference hosted by the Oxford University Centre for Business Taxation.

My news story for Tax Notes (paywall), published July 9, is reproduced with permission below:

Principles Matter in Digital Economy Tax Debate, Panellists Say