Last week, 136 out of 140 member countries of the Organisation for Economic Cooperation and Development/ G20 Inclusive Framework on the Base Erosion and Profit Shifting Agreed to the Statement on a Two-Pillar Solution to Address the Tax Challenges Arising from the Digitalisation of the Economy (the Agreement). This groundbreaking deal will amongst other things ensure that Multinational Enterprises will be subject to 15% tax from their market jurisdictions (countries where they operate), effective from 2023.
Our Ifeoma Solanke gives an insight into the Agreement and provides possible reasons Nigeria is one of the four countries yet to join the Agreement.
REVIEW OF THE STATEMENT ON A TWO-PILLAR SOLUTION TO ADDRESS THE TAX CHALLENGES ARISING FROM THE DIGITALISATION OF THE ECONOMY
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