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The draft rules for nexus and revenue sourcing have been released by OECD for consultation. Further consultations will be released in respect of other aspects of these rules, designed to tackle the increasing digitalisation and globalisation of the world economy.
The EU adoption of Pillar Two (or global minimum corporate tax rate) has already been commented intensively for a number of sectors.
Republican members of the Senate Finance Committee have written to Treasury Secretary Janet Yellen asking her to keep both parties in Congress involved in negotiations on a global minimum tax, arguing that such a tax would apply more broadly than originally thought.
In its current form, globalization has exacerbated inequalities. Globalization 2.0 must address the political ramifications and power imbalance of these cleavages, particularly in trade, data and technology, finance, tax, and climate change policies.
Our annual shipping update summarizes the most relevant Dutch and international tax developments for the shipping & offshore service industry during the past year.