Ireland was one of the few European countries that voted against an EU-wide digital tax back in 2018, pushing instead for a broader agreement with other nations beyond the European level. Ireland is home to a number of large tech firms, which have headquarters in the country.
Even without a deal at the OECD level this year, tensions will remain. France, the first major economy to legislate its own digital tax, is due to collect the first payments in early 2021. The U.K. and Italy have also introduced taxes aimed at tech giants, which they say they will only change if there is a wider international agreement.
Despite his optimism, Donoghoe added that a conclusion of the negotiations might not happen until the start of next year. "I expect to see that process reactivated later on in the year and while I think some kind of an agreement is possible in 2020, my own view is that it will be more likely that you'd see some of this work conclude in the early parts of next year," he told CNBC's Street Signs Friday.
The debate over digital taxation has grown in the aftermath of Covid-19, as many governments are struggling for cash as they attempt to support their economies amid the pandemic.
OpenLearning:ASX:OLL is taking advantage of the work-from-home (WFH) shift to move into professional development. Its first target, Financial services.
OpenLearning ASX:$OLL & Australian Trade and Investment Commision Deal OpenLearning=ASX:$OLL Quarterly activities report.
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OpenLearning Ltd [ASX:OLL] has some interesting prospects. Not only operating within the online education ecosystem, but also partnering with some of the major universities. Partnerships that could become the cornerstone of a much bigger arrangement.