OECD/G20 IF agrees to two-pillar plan to reform international tax rules
1 July 2021
130 countries and jurisdictions have joined a new two-pillar plan to reform international taxation rules and ensure that multinational enterprises pay a fair share of tax wherever they operate.
In a Statement on a Two-Pillar Solution to Address the Tax Challenges Arising From the Digitalisation of the Economy the OECD/G20 Inclusive Framework on Base Erosion and Profit Shifting agreed on a two-pillar solution to address the tax challenges arising from the digitalisation of the economy. A detailed implementation plan together with remaining issues is expected to be finalised by October 2021 with implementation envisaged for 2023.