Over the past couple of years, the Organization for the Economic Cooperation and Development’s (OECD)/G20 Inclusive Framework on Base Erosion and Profit Shifting (BEPS), representing more than 140 countries, has put forward a Two-Pillar agreement to address the tax challenges arising from the digitalization of the economy.
While Pillar One establishes new nexus and profit allocation rules for the largest multinational entities (MNEs), Pillar Two aims to ensure that all businesses pay their fair share of taxes where they have activities and where they earn profits. It aims to achieve this in two ways – a Subject to Tax Rule (STTR) and the Global Anti-Base Erosion (GloBE) rules.
To help keep you current on the challenges of implementing Pillar Two, download our 2022 Tax Management International Forum report, which we will continuously update.
This country-by-country perspective looks at:
- E.U. and U.K.
- United States
Download this complimentary report to keep up with the latest regarding the OECD’s Pillar Two initiatives.