Friday, 03 December 2021 03:35 GMT

America, Turkey plan to move to all-party OECD-G20 work structure

(MENAFN) On Monday, Nov. 22 America and Turkey declared a shift contract from the current Digital Services Tax to a fresh all-party solution approved by the OECD-G20 comprehensive work structure.

The transition follows the release of a previous contract in October between 137 nations in the OECD-G20 comprehensive work structure, signifying about 95 percent of global GDP, on a dual-pillar bundle of worldwide tax changes to be put in place within 2 years. In a declaration, the American Treasury Department stated, "These reforms will provide for a tax framework that is fairer, more stable, and better equipped to meet the needs of a 21-st century global economy."

The United States and Turkey enlisted with 134 other participants of the OECD-G20 comprehensive work structure, including Austria, France, Italy, Spain, and the United Kingdom, to achieve a political contract on a dual-pillar strategy to meet the tax issues faced by the digitization of the economic system on Oct. 8.

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