138 countries on 11 July 2023 committed to a further 12 months to negotiate a global settlement on where around 100 digital services multinationals will be liable to taxes. The initiate, being coordinated by the OECD, is known as Pillar 1. It would enable local taxation of an estimated $2oo billion of international revenues made by the targeted digital service providers.
Source: vatcalc.com
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