Delay and a lack of political consensus on BEPS feature in this month’s review by Tim Sarson (KPMG).
BEPS 2.0: cracks in the pillars?
At the end of May several media outlets reported comments made by the OECD Secretary-General Mathias Cormann at the World Economic Forum at Davos in Switzerland to the effect that the BEPS 2.0 deal is now not expected to come into force in 2023 as originally anticipated.
Speaking at a panel discussion Mr Cormann explained to the audience that the OECD had deliberately set a very optimistic timeline for implementation of pillar one and pillar two. Whilst he acknowledged that this tactic had helped to keep momentum going he said he suspected that practical implementation of the rules will likely be from 2024 onwards.
On 14 June the UK became the latest country to announce a delay to...
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Delay and a lack of political consensus on BEPS feature in this month’s review by Tim Sarson (KPMG).
BEPS 2.0: cracks in the pillars?
At the end of May several media outlets reported comments made by the OECD Secretary-General Mathias Cormann at the World Economic Forum at Davos in Switzerland to the effect that the BEPS 2.0 deal is now not expected to come into force in 2023 as originally anticipated.
Speaking at a panel discussion Mr Cormann explained to the audience that the OECD had deliberately set a very optimistic timeline for implementation of pillar one and pillar two. Whilst he acknowledged that this tactic had helped to keep momentum going he said he suspected that practical implementation of the rules will likely be from 2024 onwards.
On 14 June the UK became the latest country to announce a delay to...
If you or your firm subscribes to Taxjournal.com, please click the login box below:
If you do not subscribe but are a registered user, please enter your details in the following boxes:
