G20 agreement on Pillars 1 and 2 Jul 2021 article On 10 July 2021, the G20 endorsed that broad framework for Pillars 1 and 2 and the ambitious timetable for bringing the new rules into force in 2023. Read More
OECD Inclusive Framework Agreement reached on BEPS 2.0 Jul 2021 Article There has been a further breakthrough in the process to reach international agreement on the BEPS 2.0 proposals, aimed at addressing the tax challenges arising from the digitalisation of the economy. Read More
G7 Finance Ministers reach consensus on Pillar 1 and Pillar 2 proposals Jun 2021 article On Saturday 5 June 2021 the G7 finance ministers reached political consensus on proposals for a global minimum corporation tax of at least 15% to be determined on a country by country basis. Read More
The EU Commission sets out its immediate tax policy agenda Jun 2021 article The European Commission's "Communication on Business Taxation for the 21st Century", published on 18 May 2021, sets out a number of tax proposals it aims to have implemented in the immediate future. Read More
OECD Global Minimum Taxation Rules and IP Regimes Apr 2021 publication The OECD Pillar Two Blueprint published on 12 October 2020 is aimed at addressing challenges relating to the taxation of the digital economy. Read More
A deal on BEPS 2.0 could cost Ireland 20% of its corporation tax revenues Apr 2021 article Speaking at an Irish Department of Finance international tax seminar, held virtually on 21 April 2021, Irish Finance Minister Pascal Donohue indicated that the cost to Ireland of agreement on BEPS 2.0 is... Read More
Overview of the Pillar 1 Proposed Tax Dispute Resolution Process Feb 2021 publication 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. Read More
Inconsistencies in the US approach to BEPS 2.0 Project? Feb 2021 audio Philip McQueston, Of Counsel, spoke with US and Brazilian attorney José Rubens Scharlack about inconsistencies José sees in the US position concerning the BEPS 2.0 project, highlighted in a recent article... Read More
ALG contributes to the IBA Taxes Committee submission to the OECD regarding the blueprints Jan 2021 article On 12 October 2020, the OECD/G20 Inclusive Framework on BEPS released the Pillar One and Pillar Two Blueprints, together with a public consultation document seeking stakeholder input on the Blueprints. Read More
Consultation on the BEPS 2.0 blueprints Jan 2021 article What could be the final public consultation meeting on the BEPS 2.0 blueprints will be held this week on 14 and 15 January 2021. Read More
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
Key features of Pillar One and Pillar Two Dec 2020 publication On 12 October 2020, the OECD published its reports on the ‘Blueprints’ for its two-pillar proposal to address both the tax challenges arising from the digitalisation of the economy and the remaining... Read More