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The OECD/G20 Inclusive Framework Reaches New Global Agreement on Profit Allocation and Minimum Tax  

Author:  Nicolas de Boynes.; Isaac J. Wheeler.; Andrew P. Solomon.; Andrew Thomson.; Clémence Seichepine.

Source: Volume 39, Number 02, Winter 2022 , pp.51-63(13)

Journal of Taxation of Investments

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The OECD/G20 Inclusive Framework provided further clarity on the future of international tax reform by reaching a new agreement in October 2021. The release updates the Inclusive Framework’s statement from July 2021 and elaborates on the structure of Pillars 1 and 2, which will serve to update international tax laws to reflect the fast-growing digital economy and implement and impose a new global minimum tax on multinational enterprises.

Keywords: multinational enterprises, international tax, profit shifting, tax reform, global minimum tax, two-pillar framework, global minimum corporate tax, GloBE Rules, “Subject to Tax” Rule

Affiliations:  1: Sullivan & Cromwell LLP; 2: Sullivan & Cromwell; 3: Sullivan & Cromwell; 4: Sullivan & Cromwell; 5: Sullivan & Cromwell.

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