Page 62 - Pillar Two News Today

Nations resolved key differences over the level of a global minimum rate and an end to new digital taxes.

Major reform of the international tax system finalised today at the OECD will ensure that Multinational Enterprises (MNEs) will be subject to a minimum 15% tax rate from 2023.

The deal, supported by 136 countries, includes a 15 per cent minimum rate for corporations, which could bolster governments’ incomes by $205 billion a year.

Republicans warned the Biden administration against “circumventing the Senate’s constitutional treaty authority.”

Higher corporate tax rate will not have material effects on inward investment

India is on the verge of finalising the specifications of the two-pillar taxation proposal at the G-20 forum, said Nirmala Sitharaman

In July, 130 countries agreed to an overhaul of global tax norms to ensure that multinationals pay taxes wherever they operate and at a minimum 15% rate

India is on the verge of finalising the specifications of the two-pillar taxation proposal at the G-20 forum, said Nirmala Sitharaman

More than 130 countries in the OECD-led discussions approved a preliminary agreement in July, but others refused to sign

US Trade Representative Katherine Tai, along with other American officials, travelled to Pittsburgh, Pennsylvania, this week to participate in the inaugural US-European Union EU Trade and Tech Council TTC with their European counterparts.