June 20, 2013

The digital economy is eating the world (and tax systems)

So: I am (once again) working on the content and themes for an international summit about business taxation.  Five years ago, when I started working with this client, tax was a close-to-dull subject.  Nowadays, I almost feel hip being part of the debate.

But that’s not why I am blogging.  I am blogging because it’s fascinating to watch tax law NOT keep up with the pace of change in the digital economy.

In fact (hence the title of this post), the point is broader: no institutions are keeping up with the pace of this digital change.  They just can’t.  So as the G8, the G20, the OECD and poor old David Cameron grapple with how on earth to fix our broken tax system, spare them just a little pity.

They are chasing a fast-moving target.  They are highly unlikely – ever – to get ahead of the game.

Serious article about all this is here.

Have fun reading it.