Global agreement to ensure fairer taxation of multinational enterprises

The agreement reached by the OECD/G20 Inclusive Framework on the two-pillar plan to reform international taxation rules (See MIT news 1 July 2021), was endorsed by the G20 Finance Ministers and Central Bank Governors on 10 July. The European Commission has announced that it welcomes this historic global agreement and that, once there is a consensus-based global agreement on both Pillars, it will move swiftly to propose measures for their implementation in the EU.