The OECD work on addressing the tax challenge of digitalisation, which has been referred to as the BEPS 2 project, is ongoing. A Programme of Work was published early this year and the intention is to find consensus for a broad approach during 2020. Further work would then be required to implement any agreement that is reached both domestically and multilaterally.
At this early stage it is not possible to estimate the potential impact on corporation tax receipts of the implementation of any outcome which may eventually be agreed at the OECD. Technical working parties at the OECD are examining the issues in detail and no decisions have yet been made. Work on estimating any potential impact is underway at both OECD level and domestically. Currently however therefore there is insufficient clarity to properly assess the potential impact on tax revenues of any of the proposals under discussion at the OECD. Ultimately the impact on corporation tax receipts will depend on the detail of whatever is actually agreed globally.