Following the agreement reached in October 2021 by over 135 members of the OECD/G20 Inclusive Framework on BEPS to a two-pillar solution to address the tax challenges arising from digitalisation and globalisation of the economy, work on the implementation of the two-pillar plan is underway. As part of this next phase, the Inclusive Framework will consult stakeholders on a number of aspects of Pillar One and Pillar Two over the coming months.
On 4 February 2022, the Inclusive Framework has released the first building block under Pillar One for public consultation. The first building block contains the Draft Rules for Nexus and Revenue Sourcing. While the draft rules have been agreed for release by the Inclusive Framework to obtain public comments, they do not reflect consensus regarding the substance of the document.
Interested parties are invited to send their written comments no later than 18 February 2022.
Further information available here.
Recent Comments