OECD commentary on the pillar two model rules and the responses to the pillar one public consultations are among the recent developments examined by Tim Sarson (KPMG).
Pillar two developments
On 14 March 2022 the OECD released its commentary on the pillar two model rules for a 15% global minimum tax.The Commentary is key to helping MNEs understand and assess the impact of the pillar two model rules that were published in December 2021. With 228 pages of commentary and a further 49 pages of ‘illustrative examples’ it will not be a quick or simple exercise for MNEs to assess the impact of the guidance on their businesses. Expect to hear more on this in the coming weeks and months.
In the meantime jurisdictions are continuing to pave the way for the implementation of the pillar two rules.
Singapore
Singapore’s Budget presented on 18 February 2022...
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OECD commentary on the pillar two model rules and the responses to the pillar one public consultations are among the recent developments examined by Tim Sarson (KPMG).
Pillar two developments
On 14 March 2022 the OECD released its commentary on the pillar two model rules for a 15% global minimum tax.The Commentary is key to helping MNEs understand and assess the impact of the pillar two model rules that were published in December 2021. With 228 pages of commentary and a further 49 pages of ‘illustrative examples’ it will not be a quick or simple exercise for MNEs to assess the impact of the guidance on their businesses. Expect to hear more on this in the coming weeks and months.
In the meantime jurisdictions are continuing to pave the way for the implementation of the pillar two rules.
Singapore
Singapore’s Budget presented on 18 February 2022...
If you or your firm subscribes to Taxjournal.com, please click the login box below:
If you do not subscribe but are a registered user, please enter your details in the following boxes:
.jpg?sfvrsn=335a554c_0 "300 x 250 (MPU)")