The OECD released ‘Blueprints’ on the tax digitalisation/globalisation project on Monday 12 October. These two Blueprints cover Pillar 1 and Pillar 2 in the project framework previously announced. Pillar 1 looks at the attribution of revenues to market jurisdictions. Pillar 2 deals with the imposition of a minimum tax. The Blueprints indicate the degree of current consensus and outstanding issues being pursued in the Inclusive Framework of 137 countries and agreement on a widely accepted global solution had been scheduled by the end of 2020.
We are hosting a webcast, tomorrow, on the 16th of October, 3:00pm CET to discuss this important milestone in the project. On the webcast members of our Global Tax Policy team and subject specialists will discuss the progress that has been made, the difficulties being encountered and what the Blueprints mean for multinational enterprises, tax authorities and other stakeholders.
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- Stef van Weeghel, Global Tax Policy Leader, PwC Netherlands
- Will Morris, Deputy Leader, Global Tax Policy, PwC United States
- Isabel Verlinden, Global Transfer Pricing Leader, PwC Belgium
- Pat Brown, Washington National Tax Services Co-Leader, PwC United States
- Edwin Visser, EMEA Tax Policy Leader, PwC Netherlands
- Jennifer Spang, National Tax Accounting Leader (US), PwC United States
- Giorgia Maffini, Tax Policy and Transfer Pricing, PwC United Kingdom
- Pam Olson, Consultant, Tax Policy Services, PwC United States, Former Assistant Secretary for Tax Policy at the US
Tax Policy Alert
Our Alert: ‘OECD releases Blueprints on Pillar: One and Pillar Two, Updated Economic Analysis’ considers the significance of the Inclusive Framework of 137 countries having agreed to a new target date of mid-2021. It highlights some of the significant areas of apparent agreement and remaining political and technical issues where differences of views remain to be bridged. The Alert also looks at the other materials published alongside the Blueprints, including updated economic analyses of the potential impacts, together with the scope and timing of the announced consultation.
- Corporate income tax
- International taxation
- Tax challenges arising from the digitalisation of the economy/Global anti-base erosion (GloBE)
- Transfer pricing