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EU: Council looks to rules on taxing profits in digital economy

EU: Council looks to rules on taxing profits

The EU Council announced conclusions adopted on 5 December 2017 will serve as a reference for further work on the subject of the taxation of profits in the digital economy at the EU level, including legislative proposals expected early in 2018.

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As noted in today’s release, the Council has:

  • Highlighted the urgency of agreeing on a policy response at an international level
  • Called for close cooperation with the OECD and other international partners
  • Suggested that the concept of “virtual permanent establishment” be explored, together with amendments to the rules on transfer pricing and profit attribution

The OECD is currently analysing business models of the digital economy. It is preparing an interim report to the G20, scheduled for April 2018.

 

Read a December 2017 report prepared by KPMG’s EU Tax Centre

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