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)