Miscellaneous 2022

Progress report on OECD's proposals for Pillars 1 and 2

Source: The Tax Specialist Journal Article

Published Date: 1 Oct 2022


The G20 political agreement in October 2021 on Pillar 1 (assigning taxing rights to market jurisdictions over the 100 largest multinationals) and Pillar 2 (implementing a global minimum corporate tax at 15%) was a watershed in international taxation. The proposed implementation of both in 2023 was very ambitious - way too ambitious as it seems to be turning out. Pillar 1 still has a long way to go technically and politically, and remains in doubt. Pillar 2 was always further advanced technically and politically, but is unlikely to start until 2024 at the earliest. This article outlines the current progress towards implementation and the main technical difficulties. And movement continues - after the article's completion, the Australian Government released a broad consultation paper on implementing the agreement and the Inclusive Framework on BEPS released a further progress report on administration and dispute resolution for Pillar 1.

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Miscellaneous 2022

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