The Organisation for Economic Cooperation and Development (OECD) has now published its Model Rules and associated commentary on the “Pillar 2” or “Global Minimum Tax” rules. The Pillar 2 rules are part of the wider global initiative on taxing large global companies, and seek to ensure that at corporate profits are taxed at an effective tax rate of at least 15% across all territories, regardless of the local corporation tax rate.
In this podcast Matt Stringer, Corporate and International Tax Partner in Grant Thornton’s UK firm, discusses the latest thinking on the Pillar 2 rules from across the globe with International Tax Partners from the United Arab Emirates (Anuj Kapoor), Germany (Christina Busch), USA (David Sites) and Japan (Michiko Shinohara).
We explore the political reaction to the rules, current views on implementation timelines, some complexities we see in applying these rules practically, and what businesses can do now to get ready for the introduction of Pillar 2.
Further information regarding Pillar 2 and thoughts from our international tax experts can be found here.
