Business Group Warns of Net Tax Loss Under UN Approach
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Business Group Warns of Net Tax Loss Under UN Approach
A global business group said that developing countries would lose hundreds of millions of dollars a year if they adopt a new method of taxing cross-border services endorsed by the United Nations. The International Chamber of Commerce said a report (read the report here) it commissioned found the UN Model Tax Convention’s Article 12AA would lower annual revenue in developing countries by $241 million.
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