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08/10/2021 – Major reform of the international tax system finalised today at the OECD will ensure that Multinational Enterprises (MNEs) will be

OECD Information for journalists, 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.

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.

To print this article, all you need is to be registered or login on Mondaq.com. For over a decade, countries have been looking for ways to tax the digital economy. On July 1, 130 countries announced an agreement that would provide a new taxing right to enable a country to tax a portion of digital profits even in the absence of traditional taxable nexus with the country. This new taxing right is known as "Amount A". The quantum of Amount A remained a mystery until the publication of the OECD's "Statement on a Two-Pillar Solution to Address the Tax Challenges Arising Fro...