- Organization for Economic Cooperation and Development proposed a shake-up
- It would force big businesses to pay more in places they make ‘significant’ sales
- OECD said it was necessary to make international tax system fit for digital age
- But tax chiefs have now called for more critical details regarding the changes
- The group of the world’s richest nations is to meet in Paris at the end of the wee
Internet giants have been spooked by plans for a global tax crackdown and have demanded more details on the ‘biggest shake-up of rules in a century’, it emerged today.
The Organization for Economic Cooperation and Development (OECD) proposals would force consumer-facing businesses to pay more in countries where they make ‘significant’ sales and profits – even if they do not have a physical presence there.
The group of the world’s richest nations, which is set to meet in Paris at the end of the week, said the overhaul was necessary to make the international tax system fit for the digital age.