Ibec, the group that represents Irish business, welcomed developments at today’s EcoFin Council which suggests growing support for solving the challenges of taxation in a rapidly digitising economy through the OECD/G20 BEPS process. The group also reiterated its support for the strong and coherent position in support of multilateralism held by the Irish Government throughout recent months.
Ibec’s Head of Tax and Fiscal Policy, Gerard Brady, said: “The drive from some Member States towards unilateral solutions to the taxation of the digital economy has been a major concern for Irish business. It is clear to us that the previous rushed unilateral proposals would have undercut efforts of 124 countries to arrive at coherent global solutions through the OECD/G20 BEPS process. In this context, today’s developments seem to spell a welcome acceptance of a multilateral approach at a European level.”
“In addition, unilateral measures had the potential to play directly into the growing global trade tensions. Ireland is uniquely exposed to these threats given its open, globalised business model. We look forward to working with the OECD, Government and other stakeholders to making further progress on the OECD BEPS discussions on digital taxation over the coming year.”