This publication helps entities in developing disclosures on the impact of the implementation of Pillar Two model rules that meet the requirements of the Amendments to IAS 12 Income Taxes.
The key goal of Pillar Two is to ensure that large MNEs pay a minimum level of tax, regardless of where they locate their profits. It’s designed to combat profit shifting to low-tax jurisdictions, preventing a “race to the bottom” in corporate taxation. It aims to create a more level...
Pillar two is part of a package of initiatives agreed at OECD level by territories worldwide to tackle the challenges of taxing multinational enterprises (MNEs) cross-border. In the UK, it will be known as the multinational top-up tax and domestic top-up tax that will apply for accounting ...
[1]On October 8, 2021, the OECD/G20 member states agreed in principle to two “pillars” to reform international taxation rules. “Pillar One” would address digitalization and allow countries to tax very large multinational companies that do not have a physical presence in the taxing ...
The OECD framework for international tax reform aims to ensure that large multinational enterprises (“MNEs”) pay tax where they operate. It is also intended to increase certainty and add stability to the international tax landscape. The framework is comprised of two proposals, known as Pillar On...
Conservative US politicians are building a narrative against the OECD’s two-pillar plan for international tax reform, but they have no serious alternative vision. Opinion: Biden could save pillar one, but there’s a catch The OECD must pay attention to US politics because the next election ...
On Aug. 16, 2023, the German government confirmed draft legislation approving the global minimum tax rules as agreed to with other countries in a sweeping international tax reform under OECD Pillar Two. This legislation also coincides with the European Union Council Directive ...
The OECD based its pillar two proposal on provisions of the Tax Cuts and Jobs Act (TCJA), the most radical reform of the US tax code for 30 years. No one predicted that the TCJA, which was signed into law in December 2017, would lead to a global minimum tax rate...
US International Tax Alert: New OECD guidance provides needed detail regarding Pillar Two implementation July 21, 2023 Proposed regulations terminate section 367(d) application to certain repatriated IP May 30, 2023 Key tax considerations related to the Turkish economy being classified as highly inflatio...
While implementing the Two-Pillar Solution is a key focus, the OECD also continues to advance on other critical aspects of international tax reform. Spearheaded by the G20, the OECD’s efforts on tax transparency continue to achieve results. In 2021 alone, over 100 jurisdictions exchanged informa...