Details of future "digital tax" may be known in November

Details of future "digital tax" may be known in November

A detailed description of the "digital tax" model for global companies in Russia may become known in November. This was announced to reporters on the sidelines of the Eastern Economic Forum (EEF) by the deputy head of the Ministry of Digital Development, Communications and Mass Media Maxim Parshin.

"Russia is participating in the discussion of mechanisms that are being developed within the OECD - PILLAR1 and PILLAR2. At the moment mechanisms and a model are being worked out on the OECD platform. According to their forecasts, a detailed description of the taxation model may be published in November," stated Parshin.

The deputy minister also claimed that after global regulation is introduced, local digital taxes, which were previously introduced in a number of countries, will be cancelled. "Implementation may start in 2023, but this is a hypothesis," he added.

Earlier, the Organisation for Economic Co-operation and Development (OECD) reported that 130 countries of the world announced their accession to the international tax reform plan, which includes a 15% tax on digital corporations.

As OECD emphasizes, the “two-pillar package will provide the necessary support to governments that need to generate additional revenues to reassemble their budgets and balance sheets, invest in basic public services, infrastructure and the measures needed to help optimize the efficiency and quality of COVID recovery".

About the Forum

The VI Eastern Economic Forum is being held in Vladivostok on September 2-4 in a hybrid format, the main theme of the business program is "New Opportunities for the Far East in a Changing World." In addition to the main events, there will be the Youth EEF and the EEF Junior forum, as well as the Far East Street exhibition. The forum is organized by the Roscongress Foundation. TASS is the general media partner and the official host photo agency of the event.