“Relax a bit,” Pascal Saint-Amans advised countries that may fear losing a lot of revenue under a new global approach being developed to tax cross-border business—especially digital business.
The OECD-led project toward agreement on a plan aims not to create big revenue winners or losers, Saint-Amans said in a Sept. 11 interview at the International Fiscal Association meeting in London. He’s the OECD’s top tax official, heading work on the plan that would give more taxing rights to countries where companies’ consumers are.
Saint-Amans brought Bloomberg Tax’s Siri Bulusu up to date on the latest expectations for the project, which gained even more political urgency this summer when France enacted a 3% tax on some digital business revenue of big companies, including U.S. giants like Facebook Inc. and Alphabet Inc.'s Google. Other countries are eyeing such taxes of their own.
Listen to the conversation in a special edition of Talking Tax.