Organisation for Economic Cooperation and Development

Major reform of the international tax system finalized at the Organisation for Economic Cooperation and Development (OECD) will ensure that Multinational Enterprises (MNEs) will be subject to a minimum 15 percent tax rate from 2023. The landmark deal, agreed by 136 countries and jurisdictions representing more than 90 percent of global GDP, will also reallocate more than USD 125 billion of profits from around 100 of the world’s largest and most profitable MNEs to countries worldwide, ensuring that these firms pay a fair share of tax wherever they operate and generate profits.

Cloud computing is changing the way computing is undertaken.

It provides the ability to access IT resources on demand without the need for significant capital expenditure, thereby lowering the entry barriers for new entrants in multiple sectors. Cloud computing has thus become a platform for innovation.

This report presents the concept of cloud computing, the services it provides and deployment models, and thus give a clear overview of what it is and what it is not. It provides an overview of how cloud computing changes the way computing is carried out, and evaluates the impacts of cloud computing (including its benefits and challenges as well as its economic and environmental impacts).

Finally, the report discusses the policy issues raised by cloud computing and the role of governments and other stakeholders in addressing these issues .