OECD Statement on Pillars One and Two Leaves Many Questions Unanswered

October 2021

The OECD/G20 Inclusive Framework on BEPS moved its global tax policy process another step forward on October 8, 2021, when the group issued a revised statement outlining the Pillar One and Pillar Two plans that have been in development for almost three years. The statement has two parts. The first part is a five page summary that is identical to the group’s statement of July 1, 2021, save for a handful of changes. The second part is a three-page discussion of the group’s vision for the implementation of the new tax rules once they have been finally determined.

*This article was first published in Bloomberg Tax on October 13, 2021.