This IBFed paper considers the recent consultation on taxation of the digital economy by the OECD (published in March 2018) and the proposal by the European Commission that same month of a Digital Services Tax.

In our paper we explain why banks are inherently different from other businesses as they generally have a regulated / licences presence in the jurisdictions in which it operates and have a different business model as pure digital players. Measures taken must be internationally coordinated in order to avoid the danger of double or multiple taxation.

The paper attached will be used in engagement with the European Commission and the OECD.

IBFed Paper to the OECD_25 September 2018