G20/OECD The Digitalised Economy - Political Agreement On Taxation Of Digital Economy (Pillar One) And Global Minimum Rate (Pillar Two) [On demand] has been saved
G20/OECD The Digitalised Economy - Political Agreement On Taxation Of Digital Economy (Pillar One) And Global Minimum Rate (Pillar Two) [On demand]
Aired 19 July 2021
Host: Alison Lobb
Presenters: Lisa Shipley, Bob Stack
The G7 reached political agreement on the way forward for the international tax framework on 5 June 2021. 130 members of the G20/OECD Inclusive Framework published a joint statement agreeing the key components of the allocation of taxing rights between countries (‘Pillar One’) and the introduction of a global minimum tax (‘Pillar Two’) on 1 July 2021. Implementation is scheduled for 2023.
What does your organisation need to know about the impact of the new proposals? We’ll discuss:
- Pillar One: scope and focus on ‘largest and most profitable’ businesses, profit allocation, Amount B and tax certainty.
- Pillar Two: minimum rate, substance carve outs and interaction with US tax reform.
- Implementation and co-ordination, including removal of digital service taxes.
- G20 Finance Ministers meeting on 9-10 July and next steps.
Find out more about these proposals for major international tax policy reform.