Path opens to break deadlock on digital tax

PARIS: The world’s wealthiest nations were urged Wednesday to accept a “unified approach” to break the deadlock over taxing the global revenues of digital giants, a dispute that has stoked tensions between the US and several European nations. The OECD group of wealthy democracies published its suggestions to bridge gaps between three competing plans to tax technology firms, which currently shift the bulk of their earnings to low-tax jurisdictions. Public outrage has grown over the practice, which critics say deprives many nations of their fair share of tax revenue, since digital giants can often pay next to nothing in countries where they rake in huge earnings.