German- Belgian Colloquium on global tax reform: a status update on the OECD Two Pillar Approach
On May 23rd, 2022 the Belgian and German tax authorities organized a colloquium on the two-pillar approach. The colloquium was held in Brussels and was hosted by Mr Hans D’Hondt, Chairman of the Management Committee of the Belgian Federal Public Service Finance. The colloquium was opened by Mr D’Hondt and Mr Martin Kotthaus, Ambassador of
Political agreement on fundamental overhaul of the international tax system
On 8 October 2021, the Inclusive Framework (IF) announced a further agreement backed by 136 (out of 140) members of the Inclusive Framework on the two-pillar approach. In the last few days, a number of countries that initially opposed the reform are now also signing up for it (e.g. Hungary, Ireland and Estonia). With this,
OECD Inclusive Framework agrees on two-pillar Approach for International Tax Framework
On 1 July 2021, the Inclusive Framework (IF) announced an agreement backed by 130 (out of 139) members of the Inclusive Framework on the two-pillar approach. This approach redesigns the international tax framework. Here’s a summary of the main points of the agreement: Pillar one Pillar One is intended to re-allocate the taxing rights of
G7 commits to a global minimum tax of at least 15% and taxation of digitalised economy
The G7 finance ministers published on 5 June 2021 a Communiqué announcing that they reached a high-level political agreement on a global tax reform. In particular, they agreed on the reallocation of a share of the profits of certain multinational enterprises to market jurisdictions (Pillar 1) and a global minimum tax of at least 15%
