Addressing Tax Challenges Arising from Digitalization of the Economy: USCIB Submits Comments to OECD

Washington D.C., December 14, 2020 – The U.S. Council for International Business (USCIB), which represents many of America’s leading global companies, provided comments to the Organization for Economic Cooperation and Development (OECD) in response to the OECD’s Public Consultation Request to its Reports on the Pillar One and Pillar Two Blueprints, which would develop coherent rules to address the tax challenges arising from the digitalization of the economy.

Among its recommendations, USCIB emphasized that the OECD rules should be developed with consideration of their potential impact on global growth and business investment decisions, and should be designed in a way to support the achievement of tax certainty for taxpayers and tax administrations and not be too complex or too onerous in compliance to discourage global investment. According to its comments, USCIB noted that the rules should also be based, to the maximum extent possible, on internationally accepted principles of taxation for coherency in their creation and consistency in their application.

For USCIB’s complete comments to the OECD, please click here.

About USCIB:
USCIB promotes open markets, competitiveness and innovation, sustainable development and corporate responsibility, supported by international engagement and regulatory coherence. Its members include U.S.-based global companies and professional services firms from every sector of our economy, with operations in every region of the world, generating $5 trillion in annual revenues and employing over 11 million people worldwide. As the U.S. affiliate of the International Chamber of Commerce (ICC), the International Organization of Employers, and Business at OECD (known as BIAC), USCIB helps to provide business views to policy makers and regulatory authorities worldwide, and works to facilitate international trade and investment. More information is available at www.uscib.org.

Staff Contact:   Kira Yevtukhova

Deputy Director, Marketing and Communications
Tel: 202.617.3160

Kira Yevtukhova manages USCIB’s print and online publications, including the website, e-newsletter and quarterly magazine, and serves as the organization’s digital media strategist. Prior to this role, Kira worked for over five years within USCIB’s Policy Department, focusing on climate change, environment, nutrition, health, and chemicals related policy issues. She is a graduate of Mount Holyoke College and is currently pursuing an MBA at Georgetown’s McDonough School of Business.
Read More

Related Content