How will global tax policies evolve in 2024 and beyond?.

In 2024, global tax policies are expected to undergo significant changes influenced by factors such as international collaboration, the digital economy, and environmental concerns. Nations are increasingly focusing on harmonizing tax systems to address issues like tax avoidance and the taxation of multinational corporations operating online. Additionally, there is a growing emphasis on implementing taxes aimed at combating climate change, such as carbon taxes.

Key Facts

• The OECD’s Base Erosion and Profit Shifting (BEPS) initiative continues to shape international tax standards.
• Countries are exploring digital services taxes (DST) to target tech giants.
• The global corporate tax rate is being standardized, aiming for at least 15% across jurisdictions.
• Climate change initiatives are prompting discussions on new tax models.

Examples or Use Cases

• The European Union is considering a digital levy to create a fairer tax landscape.
• Several countries have implemented or proposed carbon taxes to incentivize emission reductions.

FAQs

• What is the OECD BEPS initiative? It aims to reform international tax rules to prevent tax avoidance by multinational companies.
• How might digital taxes affect consumers? These taxes could lead to higher prices for digital services.