Webinar - Pillar 2 GloBE: latest developments and required actions

After a long time in development by OECD and member countries, the global 15% minimum tax (Pillar 2 GloBE), is close to implementation in some jurisdictions which will require adjustments from all affected groups. Our upcoming webinar will focus on the key issues and upcoming requirements in the light of the July further Administrative Guidance on Pillar 2 from the OECD and other new developments.

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Pillar 2 GloBE

More than 140 jurisdictions have now signed up in principle to the global minimum tax framework, representing a ground-breaking plan to update key elements of the international tax system, which is no longer fit for purpose in a global and digitalised economy.

Questioning the anti-avoidance measures usefulness

Pillar 2, which is the Global Anti-Base Erosion Rules (GloBE) minimum tax project, and the BEFIT initiatives are considered likely to reduce some tax planning opportunities respectively at worldwide and EU levels, and thus reduce the need to address them through anti-avoidance rules. Therefore, it may be reasonable to consider whether all these anti-avoidance rules need to remain should the BEFIT...

Agreement on OECD pillar 1 and 2 proposals

As of 13 July, 132 of 139 jurisdictions (including Bermuda, Cayman Islands, BVI, Switzerland, and the Bahamas) agreed to the OECD Pillar 1 and 2 proposals as refined by the US initiative. The seven that did not were: Ireland, Estonia, Hungary, Barbados, Kenya, Nigeria, Sri Lanka. This follows the earlier G7 (of which the US is a member) communique indicating agreement on the broad outline. There...

Tax matters and ESG ratings & Pillar 2 disclosures

Over the last decade, the Organisation for Economic Co-operation and Development (OECD) and the European Union (EU) have made significant developments regarding tax transparency regimes and the exchange of information between tax authorities. However, these developments are being taken further in the drive for increased transparency and public availability of such information, particularly in relation...