OECD Pillar One Amount A – Progress Report
On 11 July the OECD released a progress report on Pillar One – Amount A, the part of Pillar One that only applies to the largest and most profitable multinationals, with revenues exceeding EUR 20 billion and profit margins above 10%. Among other things, the progress report included an updated timeline with the goal of implementing the framework by mid-2023 and entry into force during 2024 – one year later than the original timeline. The public was invited to comment on the report by 19 August 2022 and a public consultation meeting was held on 12 September 2022.
Deloitte UK has prepared some observations and comments on the subject, which you can access here.
The OECD press release and progress report may be found here.