The time frame to arrive at a consensus on taxing digital companies like Google, Facebook, and Netflix under OECD
Base Erosion and Profit Shifting (BEPS) framework has now been pushed to mid-2021, from December.
Pillar-1 deals with profit allocation by digital companies and which country has the right to tax them first.
Pillar-2 proposes a mechanism to calculate tax per jurisdiction to be charged from the total profit pool, the report said.
As many as 129 countries of the Inclusive Framework under BEPS are in talks to rework the traditional international tax system to make digital firms pay taxes regardless of their physical presence or measured profits in a country.
The finance minister observed that the Group of Twenty (G20), of which all BRICS
countries are members, has delivered some very significant initiatives this year, including the G20 action plan in response to the Covid-19 pandemic, which has provided broad guidance to navigate a collective global response to the crises.
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