Five EU member states issue joint release committing to implement Pillar Two in 2023

This article was first published on Tax@Hand, and is reproduced on this blog with the authorization of its authors.

On 9 September 2022, representatives from France, Germany, Italy, the Netherlands, and Spain issued a joint statement reaffirming their commitment to swiftly implement the global minimum tax rules in Pillar Two of the two-pillar solution developed by the OECD/G20 Inclusive Framework on BEPS.

The statement confirms that although consensus among EU member states remains the preferred option, should unanimity not be reached in the coming weeks, the governments of the five signatories are ready to implement the global minimum effective taxation in 2023 by any possible legal means and are fully committed to complete the work on the better reallocation of taxing rights over large global multinationals’ profits with the objective of signing a multilateral convention by mid-2023.

Content provided by Deloitte United Kingdom.

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