EY Cross-Border Taxation Spotlight for Week ending 4 December

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In late 2020, the OECD released a set of work-in-progress proposals aimed at reforming the international tax system. They were intended to address taxation challenges arising from the digitalisation of the economy and remaining concerns around base erosion and … These reports, referred to as “blueprints”, address what have come to be known as Pillar One and Pillar Two of BEPS 2.0. These blueprint reports are extensive and technical in nature. Consensus has not (yet) been reached, but the OECD has launched a consultation period running to 14 December, with a view to reaching consensus by mid-2021. The Pillar One and Two blueprints (BEPS 2.0) following a meeting of the OECD-led coalition of 137 countries, was released last week. Contrary to expectations, there was no agreement on either blueprint by the Inclusive Framework members and it is now expected that consensus could be … BEPS 2.0 Developments: Pillar One The OECD’s request for public comments on the BEPS 2.0 proposals has met with great interest, with over 200 responses received.

Oecd beps 2.0 pillar 2

The OECD and the inclusive framework members have dedicated substantial resources during the COVID-19 period and have made significant progress with the BEPS 2.0 project. Despite the United States’ reluctance to support Pillar 1 and the widely diverging views of different nations, there BEPS 2.0 Developments: Pillar Two. The global minimum taxation principles underlying Pillar Two are broadly supported but, as with Pillar One, the level of complexity poses difficulties for affected groups. Although agreement on Pillar Two remains closer than for Pillar One, addressing these challenges will be no easy task. Matthew Herrington The OECD economic impact assessment for BEPS 2.0 suggests there is a considerable amount of profits in low-tax pockets in otherwise high tax countries. The diverted profits tax and multinational anti-avoidance law, which were introduced in Australia’s initial responses to BEPS 1.0 already serve to prevent MNE Groups from structuring out of Australia to take advantage of low-tax structures. OECD releases BEPS 2.0 Pillar One Blueprint and invites public comments.

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In 2019, the OECD Secretariat suggested a two-pillar approach that the IF has adopted as the basis for a work program. In May 2019, the OECD released the “Programme of Work to Develop a Consensus Solution to the Tax Challenges Arising from the Digitalisation of the Economy” (the Workplan).1 The Programme of Work is divided into two pillars: 8 November 2019 Global Tax Alert BEPS 2.0 – Pillar Two: the OECD issues consultation document on design of global minimum Pillar Two blueprints of the BEPS 2.0 Project October 2020 Insights –Tax Alerts Tax Services KPMG Saudi Arabia Background The OECD has published blueprints on Pillar One and Pillar Two on 12 October 2020, and with them a suite of accompanying materials including an economic impact assessment and the OECD’sreport to the G20 BEPS 2.0 – Pillar Two. arising from the digitalisation of the economy has been a top priority of the OECD since 2015 with the release of the BEPS Action 1 See EY Global Tax Alert, BEPS 2.0 – Pillar Two: the OECD issues consultation document on design of global minimum tax rules, dated 8 November 2019. See EY Global Tax Alert, OECD hosts public consultation on global anti-base erosion (GloBE) proposal under Pillar Two of BEPS 2.0 project , dated 13 December 2019. BEPS 2.0: Latest updates on Pillar I and II. 02 Oct 2020.

EY Cross-Border Taxation Spotlight for Week ending 9 October

On 8 November 2019, the Organisation for Economic Co-operation and Development (OECD) released a public consultation document on the Global Anti-Base Erosion (GloBE) proposal under Pillar Two of the ongoing project titled “Addressing the Tax Challenges of the Digitalisation of the Economy” (the Consultation Document). 2020-02-07 The OECD/G20 Base Erosion and Profit Shifting (BEPS) Project aims to create a single set of consensus-based international tax rules to address BEPS, and hence to protect tax bases while offering increased certainty and predictability to taxpayers. Addressing the tax challenges raised by digitalisation has been a top priority of the OECD/G20 Background to the Blueprints and the OECD Two-Pillar Approach.

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Pillar 1 of BEPS 2.0 is made up of two parts. One part, Amount A allocates a portion of deemed residual profits of certain in-scope multinational enterprises (MNE) to market jurisdictions. BEPS 2.0: Pillar Two and Insurers 05 February, 2021 In late 2020, the OECD released a set of work-in-progress proposals aimed at reforming the international tax system.
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OECD - Wikidocumentaries

The OECD’s project involves two “pillars”: Pillar 1 would create new income apportionment and nexus rules to allow jurisdictions to In this webcast, panelists talk about the present status of the OECD BEPS 2.0 project. Please join us for the next in our webcast series as we continue to track the activity surrounding taxation of the digitalization of the economy, which has implications for companies in all sectors. Going beyond the arms’ length principle, and even challenging 2020-10-26 COVID-19 pandemic and BEPS 2.0: a key area of focus in this assessment – the OECD Secretariat’s proposal for a unified approach under Pillar One of BEPS 2.0.

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EY Cross-Border Taxation Spotlight for Week ending 4 December

2020-02-07 The OECD/G20 Base Erosion and Profit Shifting (BEPS) Project aims to create a single set of consensus-based international tax rules to address BEPS, and hence to protect tax bases while offering increased certainty and predictability to taxpayers. Addressing the tax challenges raised by digitalisation has been a top priority of the OECD/G20 Background to the Blueprints and the OECD Two-Pillar Approach. Dec 2020. publication. The matter of directly addressing the tax challenges of the digitalised economy was effectively parked in the course of the OECD’s base erosion and profit shifting (BEPS) project. READ MORE Pillar Two blueprints of the BEPS 2.0 Project October 2020 Insights –Tax Alerts Tax Services KPMG Saudi Arabia Background The OECD has published blueprints on Pillar One and Pillar Two on 12 October 2020, and with them a suite of accompanying materials including an economic impact assessment and the OECD’sreport to the G20 The top priority of the OECD/G20 Inclusive Framework on BEPS (Inclusive Framework) has been to develop a solution to the tax challenges of the digitalisation of the economy.

BEPS 2.0 digitala ekonomin – Vad händer just nu? - KPMG

Please join us for the next in our webcast series as we continue to track the activity surrounding taxation of the digitalization of the economy, which has implications for companies in all sectors. Going beyond the arms’ length principle, and even challenging 2020-10-26 COVID-19 pandemic and BEPS 2.0: a key area of focus in this assessment – the OECD Secretariat’s proposal for a unified approach under Pillar One of BEPS 2.0. 2020-02-07 OECD’s Work Program for BEPS 2.0 Key Findings • The OECD is continuing its work to develop proposals that could change international taxation rules. • The current work program focuses not only on policies that would impact how much multinational businesses … Executive summary. On 12 October 2020, the Organisation for Economic Co-operation and Development (OECD) and the OECD/G20 Inclusive Framework on Base Erosion and Profit Shifting (BEPS) released a series of documents in connection with the ongoing project on addressing the tax challenges arising from the digitalization of the economy (the "BEPS 2.0 project"). Pillar 2. Pillar 2 seeks to create a global minimum tax through two main mechanisms, outlined in the OECD’s Pillar 2 Blueprint: (1) an “income inclusion rule” (“IIR”), which would allow Yesterday, the Organisation for Economic Co-operation and Development (OECD) released a consultation document in connection with its continuing efforts under the Base Erosion and Profit Shifting (BEPS) project Action 1 to address the challenges of taxation in the digitalizing economy.

The OECD/G20 Base Erosion and Profit Shifting (BEPS) Project aims to create a single set of consensus-based international tax rules to address BEPS, and hence to protect tax bases while offering increased certainty and predictability to taxpayers. Addressing the tax challenges raised by digitalisation has been a top priority of the OECD/G20 Se hela listan på taxfoundation.org Background to the Blueprints and the OECD Two-Pillar Approach.