Salvatore J. Armao is the managing partner of New York-based Armao, LLP, where he works with labor unions, nonprofit groups, and other businesses, providing auditing, reporting, and consulting services. Apart from his work, Salvatore J. Armao is a longtime member of the American Institute of Certified Public Accountants.
The Association of International Certified Professional Accountants (AICPA), the combined voice of Chartered Institute of Management Accountants and the American Institute of Certified Public Accountants, recently took on the issue of taxation in the digital economy. The organization authored a policy paper it hopes will encourage greater discussion among the global community on how better coordination can be achieved in setting tax policy for digital transactions that take place across international borders.
While AICPA isn’t adopting a formal position on any tax policy, the paper does reference several solutions currently being considered. One is a proposed temporary 3 percent tax on gross digital sales throughout the European Union. It also looks at efforts the United Nations is considering in the digital tax arena.
The paper can be viewed for free in its entirety at aicpa.org.
The Association of International Certified Professional Accountants (AICPA), the combined voice of Chartered Institute of Management Accountants and the American Institute of Certified Public Accountants, recently took on the issue of taxation in the digital economy. The organization authored a policy paper it hopes will encourage greater discussion among the global community on how better coordination can be achieved in setting tax policy for digital transactions that take place across international borders.
While AICPA isn’t adopting a formal position on any tax policy, the paper does reference several solutions currently being considered. One is a proposed temporary 3 percent tax on gross digital sales throughout the European Union. It also looks at efforts the United Nations is considering in the digital tax arena.
The paper can be viewed for free in its entirety at aicpa.org.
