The Association of International Certified Professional Accountants Responds to the OECD’s Proposal to Address the Tax Challenges of a Global, Digital Economy
WASHINGTON--(BUSINESS WIRE)--May 28, 2019--
The Association of International Certified Professional Accountants (the Association) has submitted comments and recommendations to the Organization for Economic Co-operation and Development’s (OECD) public consultation on how to address the taxation of a global, digital economy.
In its response, the Association recommended that “a consensus-based, equitable, and successfully durable rebalancing of multi-jurisdictional taxing rights must have four elements:”
The Association specifically cited five of its Principles of Good Tax Policy as the framework for its response: (1) equity and fairness to taxpayers; (2) certainty over the amount, timing and method of payment of a tax; (3) effective tax administration to both governments and taxpayers; (4) unimpeded or no reduction in economic growth and efficiency; and (5) enablement of appropriate government revenues.
Earlier this year, the Association provided the OECD with its Taxation of the Digitized Economy policy paper, which calls for “international coordination to develop a global solution to the taxation concerns raised by digital transactions and the general digitalization of the economy.”
About the Association of International Certified Professional Accountants
The Association of International Certified Professional Accountants (the Association) is the most influential body of professional accountants, combining the strengths of the American Institute of CPAs (AICPA) and The Chartered Institute of Management Accountants (CIMA) to power opportunity, trust and prosperity for people, businesses and economies worldwide. It represents 657,000 members and students across 179 countries and territories in public and management accounting and advocates for the public interest and business sustainability on current and emerging issues. With broad reach, rigor and resources, the Association advances the reputation, employability and quality of CPAs, CGMAs and accounting and finance professionals globally.
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PUB: 05/28/2019 01:44 PM/DISC: 05/28/2019 01:44 PM