OECD: No deal on global digital tax this year

Public pressure has been growing on governments to clamp down on the tax avoidance strategies used by multinationals such as Google, Amazon, Facebook and Apple. — AFP

PARIS: The 137 nations trying to hammer out a new global standard for taxing multinational tech firms will not secure a deal by the end of this year as hoped, the OECD acknowledged on Oct 12.

"The glass is half full: the package is nearly ready but there is still no political accord," said Pascal Saint-Amans, head of tax policy at the Paris-based Organization for Economic Cooperation and Development.