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October 12, 2020

OECD issues reports on BEPS Pillar One and Pillar Two blueprints

The OECD/G20 Inclusive Framework (IF) on BEPS, has approved for public consultation new blueprints for Pillar One (reallocation of taxing rights) and Pillar Two (introducing a global minimum tax) of the project. In a statement, the IF says that the two-pillar approach provides "a solid foundation for future agreement," and the new blueprints reflect "convergent views" on "key policy features, principles and parameters for a future agreement." It still aims to work towards an agreement by mid-2021. A new economic impact analysis was also released. A Tax Alert is forthcoming.