Digital tax on US multinationals: Joe Biden election adds to the twist




MUMBAI: The OECD’s (Organisation for Economic Co-operation and Development) plan to tax large corporates across jurisdictions could have a new twist after the election of Joe Biden as president.

The important question is whether the US would change its stand on the issue, say experts.

Under the Base Erosion and Profit Shifting (BEPS) framework, large economies—barring the US—have come together to tax the global income of digital companies. Indian taxmen wants companies to discuss issues if any that they could face under pillar 1 and pillar 2.

The US had refused to be part of BEPS claiming that it largely targets American multinationals such as Apple, Amazon, Facebook and Google.

OECD had been trying to bring large economies on one page under the BEPS framewo ..