We welcome the opportunity to provide input as part of the OECD’s consultation set out in the public consultation document “Addressing the Tax Challenges of the Digitalisation of The Economy – 13 February – 6 March 2019”. Euro
In our letters we refer to our paper dated 25 September 2018 setting out some of the concerns of the International Banking Federation (IBFed) in relation to the taxation of global banks, and how banks differ from highly digitalised businesses which featured as the primary focus of the OECD’s interim report in March 2018.
We explain further how banks generally have a regulated / licences presence in the jurisdictions in which they operate and have a different business model as pure digital players. Hence measures must be taken internationally coordinated in order to avoid the danger of double or multiple taxation.