New OECD guidance provides needed detail regarding Pillar Two implementation
Jul 17, 2023
On July 17, 2023, the OECD/G20 Inclusive Framework on BEPS (“inclusive framework”) released a package of materials related to the 15% global minimum tax on multinational corporations and the subject to tax rule that together form Pillar Two of the ongoing project relating to the tax challenges of the digitalization of the economy.
The Pillar Two documents released were:
- Tax Challenges Arising from the Digitalization of the Economy – Administrative Guidance on the Global Anti-Base Erosion Model Rules (Pillar Two), July 2023 (“July AG”).
- Tax Challenges Arising from the Digitalization of the Economy – GloBE Information Return (Pillar Two); and
- Tax Challenges Arising from the Digitalization of the Economy – Subject to Tax Rule (Pillar Two).
Review the July AG on the OECD website.
