Australia’s Consultation on Pillar Two
On October 4, 2022, Australia issued a consultation paper on Pillar Two of the OECD Two-Pillar Solution. We look at the key aspects of the consultation.
The Impact of Nigeria’s Rejection of Both Pillar 1 and 2
Nigeria has rejected Pillar 1 and 2 on the basis that the thresholds would result in a loss of tax revenue. We look at the changes to domestic law to tax MNEs.
The Subject-to-Tax Rule: What You Need to Know
The Subject-to-Tax Rule is a key element of Pillar Two, and allows source jurisdictions to levy additional tax on certain payments. Read what you need to know.
The Netherlands and its Approach to Pillar Two
The Netherlands has issued Parliamentary Paper 22112 (3278) in which it provides comments on the EU’s proposed directive for the implementation of Pillar Two.
Accelerated Capital Allowances & SBIE Tool
For Pillar Two purposes, investments in fixed assets can involve an interaction between deferred tax impacts and the the substance-based income exclusion.
Pillar Two Accounting Disclosures Under IFRS
IAS 1, IAS 10 and IAS 12 all have provisions that can impact on the required disclosures in financial statements for Pillar Two, however, the key determinant will be whether the domestic tax law to implement the Pillar Two GloBE Rules has been announced, substantively enacted, or enacted before the financial statements are issued.
Interactive Map: Global VAT on Digital Services Tracker
Our interactive map covers the current global treatment of VAT on digital services. Fully cited with links to relevant laws.
Barbados to ask for more time for Global Minimum Tax
It’s been reported that Barbados is to ask the OECD for more time to implement the Pillar Two GloBE Rules. Exactly what Barbados expects is still unclear.
Joint Statement – Pillar Two Gains Momentum in the EU
Germany, France, Italy, Spain and the Netherlands issued a joint statement stating that if agreement is not reached on Pillar Two in ‘the next few weeks’ they will push forward domestic implementation of the Pillar Two GloBE rules ‘by any possible legal means’ in 2023.
122 Data Points for Pillar Two Systems Implementation
Identifying the data points required to apply the Pillar 2 rules is the first step in any tax data mapping MNEs undertake. We list the key 122 data points.
