Update on October 2021 BEPS agreement on Pillar 1 and Pillar 2

KPMG Alert.

KPMG Alert.

On Friday 8 October OECD issued update on the major reform of international tax system, the so-called two-pillar solution, which is aimed at fair relocation of profits of certain MNE under taxing right of jurisdictions where such profits are derived irrespective of physical presence of MNE in such jurisdictions, as well as on introducing the global minimum corporate tax rate set at 15%. 

Please see below our alert with key outtakes from OECD update.