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Global taxation for tech giants delayed to 2024

Countries seeking to tax multinational tech companies will have to wait until 2024 for the approval of a global taxation deal. This is because the Organisation for Economic Co-operation and Development (OECD), which is drafting a legal instrument to change tax treaties the world over, says that it is proving tougher than expected. OECD secretary-general Mathias Cormann said they will keep working as quickly as possible to get the deal finalized, but the deal involves “complex and very technical negotiations” in relation to some new concepts. European nations and the US had agreed to suspend their tit-for-tat measures so long as OECD’s global accord was implemented by 31 Dec 2023.

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