Recent developments that matter from around the globe, reported by Tim Sarson (KPMG).
BEPS 2.0 update
ECOFIN statements endorse progress on two pillars
At the 9 November 2023 meeting of the Economic and Financial Affairs Council of the EU (ECOFIN Council) EU member states approved statements reconfirming their political support for Pillars One and Two and also confirming that the safe harbour rules and the administrative guidance agreed by the OECD/G20 Inclusive Framework (IF) are compatible with the EU Minimum Tax Directive (‘the Directive’).
Readers may remember that the EC previously committed to putting forward its own proposal by the end of 2023 if sufficient progress had not been made on Pillar One at an international level. The current EC work program does not indicate any upcoming releases in this respect and the statements approved by ECOFIN seem to focus on finalising and adopting the Amount A...
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Recent developments that matter from around the globe, reported by Tim Sarson (KPMG).
BEPS 2.0 update
ECOFIN statements endorse progress on two pillars
At the 9 November 2023 meeting of the Economic and Financial Affairs Council of the EU (ECOFIN Council) EU member states approved statements reconfirming their political support for Pillars One and Two and also confirming that the safe harbour rules and the administrative guidance agreed by the OECD/G20 Inclusive Framework (IF) are compatible with the EU Minimum Tax Directive (‘the Directive’).
Readers may remember that the EC previously committed to putting forward its own proposal by the end of 2023 if sufficient progress had not been made on Pillar One at an international level. The current EC work program does not indicate any upcoming releases in this respect and the statements approved by ECOFIN seem to focus on finalising and adopting the Amount A...
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:
