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Deloitte comments on today's OECD report

12 February 2013

Deloitte comments on today's OECD report

Bill Dodwell, Head of Deloitte’s tax policy group said: “There’s widespread agreement that some form of international consensus is needed to update the international corporate tax framework; the OECD is best-placed to lead the development of new approaches to taxation.  

“Implementing a new framework may require a global convention to override the many thousands of existing Double Tax Treaties – renegotiating these bilaterally could take many years.

“The next steps will be to identify the scale of the problem and then to work on new solutions, which are practical for both tax authorities and business to implement.  

“The key to developing a new framework will be the willingness of major economies to adopt approaches which may in some cases act to their detriment.  US technology companies have leading positions in the development of internet-based commerce and US agreement to new approaches will be fundamental.

“Finally, it is important to note that corporate tax ultimately feeds through to a company’s customers, employees and shareholder (which often include employee pension funds).”

 

 Ends 

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About Deloitte
In this press release references to Deloitte are references to Deloitte LLP, which is among the country's leading professional services firms.

Deloitte LLP is the United Kingdom member firm of Deloitte Touche Tohmatsu Limited (“DTTL”), a UK private company limited by guarantee, whose member firms are legally separate and independent entities.

Please see www.deloitte.co.uk/about for a detailed description of the legal structure of DTTL and its member firms.

The information contained in this press release is correct at the time of going to press. 

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