The increase in e-commerce transactions during the
Covid-19 crisis, prompted the imposition of income tax on electronic system
transactions by significant economic service providers.
The Corona virus pandemic has also increasingly
prompted the need for solutions to tax on the digital economy,
and health taxes aimed at curbing unhealthful consumption and environmental
taxes. In the wake of the COVID-19 pandemic, the need for many
countries to raise government revenue has become more pressing as they seek to
improve fiscal sustainability, while promoting equity and avoiding adversely
impacting growth. These policy decisions take place in an environment with
increasing temperatures and extreme weather events, and exponentially growing
digital economies. Governments are exploring new tax instruments to address
negative externalities and finance public goods provision in this fast-changing
world.
Under the OECD/G20 Inclusive Framework on BEPS (Base
Erosion and Profit Shifting), 140 countries and jurisdictions are collaborating
to put an end to tax avoidance strategies that exploit gaps and mismatches in
tax rules to avoid paying tax.the 15 actions set out tax challenges arising
from digitalization, neutralising the effects of hybrid mismatch arrangements,
controlled foreign company, limitation
on interest deduction. harmful tax
practices, prevention of tax treaty abuse, permanent establishment status,
transfer pricing, BEPS data analysis, mandatory disclosure rules, country by
country reporting, mutual agreement procedure, multilateral instruments
The actions above equip governments with domestic and
international rules and instruments to address tax avoidance, ensuring that
profits are taxed where economic activities generating the profits are
performed and where value is created.
Tax science does not stand alone, but is a combination of law,
accounting, finance, social science, behavioral science, politics, and
economics. Currently, taxation has also become part of the realm of data
management and technology science.
The
International Research Conference is an academic organization dedicated
to bringing together a significant number of diverse scholarly events for
presentation within the conference program. With its high quality, it provides
an exceptional value for academics, businesses, policy makers and tax authorities.
In addition, this
conference is also intended to connect the researchers, from the field of
multi-disciplinary, as well as professionals from various spectrums. Hopefully, this
conference can significantly give more contributions to the global advancement.