EPIF is delighted to share with you its response to the OECD’s consultation call on its proposed Unified Approach under Pillar One.

EPIF  is supportive of the OECD’s efforts to reform the global taxation system to meet the needs of the Digital Age and ensure fair distribution of tax revenue. We strongly believe that any such reforms should be pragmatic and proportionate, and take into account the important contributions of the payments sector to the wider global economy.

The reason why our members are successful businesses is because they have harnessed current technology and in some cases are developing future technology to identify and meet gaps in the financial services market. Our members feel strongly that the technology that drives their businesses is highly valuable and the value drivers can be identified very well through the OECD Development, Enhancement, Maintenance, Protection and Exploitation (DEMPE) framework. This should result in appropriate and fair taxation.

EPIF therefore welcomes the opportunity to voice our concerns and recommendations on a number of points on the proposed approach to Pillar One.

Please find attached EPIF’s views on the OECD’s Unified Approach.

Should you have any questions regarding this response, please contact the EPIF Secretariat.