My very first post would be about a term, which I today suddenly came up with: Tax 2.0
The term Tax 2.0 came to my mind during one of my contemplation sessions EOB regarding the discussions about establishing a new “component” tax system by tax jurisdictions in particular on the international level. The phenomenon which has been tried to define with Tax 2.0 can also be termed “global tax revolution“.
Inspiration for this term rises from another popular term Industry 4.0 which is very commonly used in the business environment. However, it can be argued that it is widely misused, as the accurate form of it would be Industrial Revolution 4.0. Following that, Tax 2.0 should be considered indeed as the abbreviation of Tax Revolution 2.0.
The initiatives on the global level such as BEPS even BEPS 2.0, also domestic implementations, e.g. tax reform instruments such as GILTI, BEAT in US showed that not only the international organisations on the global level like OECD, but the tax jurisdictions on their domestic area are currently struggling with the establishing a “proper” tax system which will be able to cover the economic system.
To be continued…