OECD members have made progress towards reaching a consensus-based long-term solution to the tax challenges arising from the digitalisation of the economy.

According to an OECD statement, they have agreed to keep working towards an official agreement by mid-2021.

The OECD/G20 Inclusive Framework on BEPS, which groups 137 countries and jurisdictions on an equal footing for multilateral negotiation of international tax rules, agreed during its latest meeting that the two-pillar approach provides a solid foundation for a future agreement.

They have been developing this approach since 2019. 

Recogni...