Following the publication of the detailed blueprints on BEPS 2.0 pillar one and pillar two in October 2020,
the OECD held a public consultation meeting on 14 and 15 January 2021. The meeting focused on the key questions raised in the blueprints, as well as those raised in the submissions received during the consultation process, including:
the scope of pillar one;
the inclusion of safe harbours and thresholds;
the appropriate dispute resolution mechanism for pillar one; and
whether groups subject to the US global intangible low taxed income regime (GILTI) rules should be excluded from pillar two.
The director of the OECD Centre for Tax Policy and Administration, Pascal Saint-Amans, announced that the proposals are currently being fine-tuned while they wait for a new US Treasury tax policy team to be established. He went on to state that more work is needed on coordinating the rules and reducing complexity.
The Inclusive Framework will be holding its next plenary meeting on 27 and 28 January 2021 and intends to reach agreement on the proposals before the G20 finance ministers meet on 9 and 10 July 2021.
Following the publication of the detailed blueprints on BEPS 2.0 pillar one and pillar two in October 2020,
the OECD held a public consultation meeting on 14 and 15 January 2021. The meeting focused on the key questions raised in the blueprints, as well as those raised in the submissions received during the consultation process, including:
the scope of pillar one;
the inclusion of safe harbours and thresholds;
the appropriate dispute resolution mechanism for pillar one; and
whether groups subject to the US global intangible low taxed income regime (GILTI) rules should be excluded from pillar two.
The director of the OECD Centre for Tax Policy and Administration, Pascal Saint-Amans, announced that the proposals are currently being fine-tuned while they wait for a new US Treasury tax policy team to be established. He went on to state that more work is needed on coordinating the rules and reducing complexity.
The Inclusive Framework will be holding its next plenary meeting on 27 and 28 January 2021 and intends to reach agreement on the proposals before the G20 finance ministers meet on 9 and 10 July 2021.
