- New Zealand will introduce a digital services tax on large multinational companies from 2025, after talks for a global rollout did not reach consensus at the OECD.
- Over 140 countries were supposed to implement a 2021 deal overhauling outdated rules on how governments tax multinationals, but the proposal was pushed back last month.
- The proposed tax will target multinational businesses that earn income from New Zealand users of social media platforms, search engines and online marketplaces.
- The tax would be applied at 3% on gross taxable New Zealand digital services revenue and is expected to generate NZ$222m over four years.
Source Reuters
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