DIGITALEUROPE welcomes OECD’s Secretariat proposal on how to address digitalisation of the global economy

With Wednesday’s release of a public consultation document proposing a unified approach to profit reallocation, the OECD Secretariat has proved very successful at delivering on the Programme of Work and DIGITALEUROPE would like to congratulate them for making this concrete proposal in record time.

“Indeed, the document released on 9 October is a good start for a more focused and in-depth dialogue and considerable progress has been accomplished over the summer” – said Ms Cecilia Bonefeld-Dahl, Director General.

While it is undoubtedly a good starting point, it will have to stand the test of the G20 meeting, and its success depends to a large extent on the countries’ ability to think holistically and collaborate. “In this respect, endorsement by the G20 Finance ministers meeting on 17 October will be instrumental to ensure further progress until the final report is completed in June 2020”, Ms Bonefeld-Dahl said.

She proceeded with this warning: “Failure to reach agreement by 2020 would greatly increase the risk that countries will act unilaterally, as exemplified by Italy and Austria lately”.