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On 8 October 2021, 136 countries of the 140 members of the OECD Inclusive Framework on Base Erosion and Profit Shifting committed to fundamental changes to the international corporate tax system.

Pillar One aims at reallocating more income to markets via a simple formula delivering the so-called Amount A and signatory countries have proposed an ambitious implementation timeline with Pillar 1 entering into force in 2023. 

Pillar Two establishes a minimum tax system with a minimum effective tax rate at the jurisdictional level. Businesses may need to consider the impact of Pillar Two in
forecasts and factor into decisions going forwards together with the implications of Pillar Two for their compliance systems. 

Read our flyers below to find out more about why Pillar One and Two are so important.

Pillar One Blueprint