G20 digital tax takes step closer

Global efforts to impose a unified tax policy on Google, Facebook and other internet giants have cleared a major hurdle ahead of a G20 summit in Japan. The Paris-based Organisation for Economic Cooperation and Development (OECD) stated that 129 countries had signed off on a road-map to grab a fairer tax share of the companies’ booming sales.

OECD seeks to reach a unified long-term solution to the tax challenges posed by digitalisation of the economy by the end of 2020.

Important Takeaways for SBI PO/Clerk Mains-

  • OECD was founded in 1961.
  • Jose Angel Gurria is Secretary-General of the OECD.

Source- All India Radio (AIR News)

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