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Summary:
The OECD is hoping to reach a global solution on the challenge of taxing digital services, which mostly affects US companies.
With Donald Trump no longer occupying the White House, there is hope that the US will be taking a less combative approach to global trade issues and that President Biden will take a more collaborative, conciliatory stance. High on the agenda in 2021 is the ongoing fight over how countries fairly tax digital services, which in reality mostly impacts the US tech giants.
And time is of the essence, as the OECD aims to reach an agreement by this Summer, before more countries begin taking a nationalistic approach to the issue. The likes of the UK, France and Spain have all either signalled or already implemented their own digital services tax plans - and plan to persist with them if an internationally agreed solution is not found.