The OECD released the public consultation document on the Pillar One - Amount A: Extractive Exclusion on 14 April 2022. Comments on the consultation document are due by 29 April 2022. This alert provides a short overview of the proposed approach to the Extractives Exclusion and some initial observations.
It is particularly important to note that these draft rules for the moment represent the work of the OECD Secretariat. The Inclusive Framework has not approved the draft rules yet. They may, therefore, be subject to change, unrelated to the consultation process. The consultation document specifically identifies several open issues that the Task Force on the Digital Economy (TFDE) is currently exploring and invites input from stakeholders. Detailed commentary on a number of technical items is also expected at a later date.