Inclusive Framework BEPS Agreement

Update on Pillar 2 agreement - December 2021

Update on Pillar 2 agreement - December 2021

On 20 December 2021, the OECD/G20 Inclusive Framework on Base Erosion and Profit Shifting, involving 137 countries, released Model GlobeBE Rules under Pillar 2. The document contains 70 pages, 15 of which are definitions, that are the rules for a Global Minimum Tax at 15% for Multi-national Enterprises (MNEs) with a turnover of more than €750 million. It is anticipated that a document providing further commentary on the rules will be released early next year. The model rules released on 20 December differ from the original Blueprint on Pillar 2 from October 2020 in significant ways.

Please see below our alert.