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Digital Economy - New Tax Legislation

22 November 2019

The OECD published a new proposal “Unified Approach under Pillar One” on 9 October 2019, initially aimed at taxing digital business models but now likely affecting large sections of the economy. The result would be a completely new way of corporate taxation, which would no longer be linked to a physical presence through a legal entity or a permanent establishment, but primarily to the achieved turnover in a market jurisdiction.