ITI Reacts to OECD Timeline Shift
WASHINGTON — Today, ITI issued the following reaction from President and CEO Jason Oxman to the Organization for Economic Co-operation and Development (OECD) announcement that the meeting of its Inclusive Framework originally scheduled for July 1-2 in Berlin will be held virtually, and they will assess progress to date in negotiations to address the tax challenges of the digitalization of the economy. Either a physical or virtual meeting of the Inclusive Framework will be held in early October ahead of the G20 Finance Ministers Meeting taking place on October 15-16. The changes in the timeline are due to the ongoing COVID-19 crisis, and consensus on a multilateral solution is still being sought by the end of 2020.
“We recognize that the extraordinary circumstances have affected the timeline of the OECD’s negotiations but are confident the process will move forward and remain focused on ensuring that a multilateral solution is realized. This effort remains the best avenue to address the tax challenges raised by the digitalization of the global economy.”