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OECD tax reforms unlikely following US election; DST & trade retaliation risks

15 November 2024 in

Digital Services Tax

US presidential election means OECD Pillar 1 tax agreement unlikely Digital Service Taxes back on agenda with risk to tariff retaliation The OECD’s negotiations with around 120 counties on rewriting the rules on taxing cross-border digital services (‘Pillar 1′) is now in peril following the

Digital Services Taxes DST – global tracker

14 November 2024 in

BEPS

DST's are a new class of taxes being implemented to tackle the perceived unfairness of non-resident digital companies to sell across borders without being liable to local corporate income taxes. They are typically a percentage charge of turnover from in-scope activities, with a sales threshold

OECD Pillar 1 update as DST moratorium wanes

28 October 2024 in

Digital Services Tax

OECD Report to G20 includes Pillar 1 reforms update as countries reactivate Digital Services Taxes The OECD has updated Finance Ministers of the G20 on progress on tax talks, including BEPS. The report covered Pillar 1 talks to redistribute the jurisdictional rights to tax revenues

France DST rise to 5% proposal

21 October 2024 in

Digital Services Tax

Finance Committee considers hiking Digital Services Tax from 3% to 5% France’s Finance Committee of the National Assembly is reviewing an amendment (I-735) to the 2025 budget to raise the 3% Digital Services Tax (DST) to up to 5% to raise €500m. A separate proposal

Italy Digital Services Tax threshold withdrawal proposal

18 October 2024 in

Digital Services Tax

2025 Budget Law draft ends threshold for 3% DST On 15 October 2024, the Italian government submitted to Parliament its 2025 Budget Law, including a proposal to scrap the two-pronged threshold on its 3% Digital Services Tax (DST). The implementation date would be 1 January

Nepal Digital Services Taxes update

28 August 2024 in

Digital Services Tax

2% DST on digital services launched in July 2022 The Nepalese Inland Revenue Department has updated its Digital Services Tax Act for 2024. The threshold for being subject to the 2% turnover tax digital services within scope has been raised from NPR 2 million to

Global VAT e-invoicing and digital reporting mandates

23 August 2024 in

BEPS

Latest announced and potential digital reporting, e-invoice and SAF-T mandates. For a comprehensive country-by-country review of digital and e-invoice reporting check out our global e-invoicing tracker. Upcoming mandates Potential mandates In-progress SAF-T Upcoming e-invoice mandates Country Date Comments (click for details) Romania Jan 2024 RO

Canadian 5% streaming media levy

3 August 2024 in

Canada

1st September 2024 5% tax on online streaming services The Canadian TV and Telecoms Commission has announced a 5% streaming tax. This will be effective from 1 September 2024. The levy is chaged at 5% on Canadian-generated revenus with online streaming TV, video, music and

India scraps 2% equalisation levy on foreign digital services

1 August 2024 in

digital services

1st Aug 2024: Budget removes contentious tax on non-resident providers of digital services The latest Indian budget has confirmed the scrapping of the 2% equalisation levy on digital companies, online education-providing firms, and software-as-a-service (SaaS) providers without a permanent physical presence in India. This is

Kenya withdraws 1.5% Digital Services Tax 2025

25 May 2024 in

digital services

Kenya to fall into line with $250 billion OECD global tax reforms – unlocks US free trade deal Kenya has brought forward in the draft Tax Laws (Amendment) Bill 2024 plans to replace its existing 2021 1.5% Digital Services Tax (DST) as it withdraws its objections

Tag: Digital Services Tax