What are the latest global tax trends for 2024 and 2025?.

The latest global tax trends for 2024 and 2025 include an increasing focus on digital taxation, which targets multinational tech companies, and the introduction of carbon taxes to address climate change. Countries are also enhancing international cooperation to prevent tax evasion and improve transparency.

Key Facts

• Digital taxation initiatives are being adopted in over 140 countries.
• The OECD's Inclusive Framework on Base Erosion and Profit Shifting (BEPS) includes over 135 countries.
• Carbon taxes are projected to increase, with over 30 countries implementing such measures by 2025.
• Governments are utilizing advanced data analytics to enhance tax compliance.

Examples or Use Cases

• The European Union is working on a Digital Services Tax to impose levies on tech giants.
• Canada introduced a carbon pricing strategy that affects businesses based on their emissions.

FAQs

1. What is digital taxation?
   Digital taxation aims to ensure that tech companies pay tax where they generate revenue rather than just where they are based.
2. How do carbon taxes work?
   Carbon taxes charge businesses based on their carbon emissions, incentivizing them to reduce their environmental impact.