Valuation Advisory
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Valuation AdvisoryManaging Director Simon Webber, Director Andrew Cousins and Vice Presidents TJ Michaelson and Daniel Othmann in Duff & Phelps’ global Transfer Pricing practice, provide U.S. and UK perspectives in the August 2019 issue of Bloomberg BNA’s Transfer Pricing Forum.
The phrase, “the world is a global village” was initially coined in the 1960s to reflect the growing interconnectivity of the world due to the proliferation of media technologies; and is more relevant now than ever before with digitalization transforming every aspect of our lives. It is becoming more apparent that existing international tax rules are not sufficient to meet the needs of a growing digital economy. With the evolution of business models that do not require a physical presence in the market to derive profits, multinationals now derive substantial income in jurisdictions where they have no physical presence (and therefore no tax obligations). The OECD is spearheading efforts to develop a consensus-based, long-term global solution to address these concerns.
In this issue, international transfer pricing practitioners provide their insight on how the tax authorities, as well as multinationals in their jurisdictions, are preparing for the anticipated OECD harmonized global approach to the digitalization of the economy.
Read the full issue here.
The topic on taxation and digitalization of the economy included commentary on the following questions:
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