COMTAX AB
  • Home
  • Products
  • NEWS
  • Partners
  • Contact
  • Join us
  • FAQs
  • Login

International Tax News & Updates

136 jurisdictions strike global digital tax deal

10/12/2021

 
Picture
On October 8, 2021, major reform of the international tax system was finalized to ensure that multinational enterprises (MNEs) will be subject to a minimum 15% tax rate from 2023.

136 jurisdictions (out of the 140 members of the OECD/G20 Inclusive Framework on BEPS) joined the Statement on the Two-Pillar Solution to Address the Tax Challenges Arising from the Digitalisation of the Economy. With Estonia, Hungary, and Ireland having joined the agreement, it is now supported by all OECD and G20 countries. Four countries - Kenya, Nigeria, Pakistan, and Sri Lanka - have not yet joined the agreement.

Pillar One will ensure a fairer distribution of profits and taxing rights among countries with respect to the largest and most profitable multinational enterprises. It will re-allocate some taxing rights over MNEs from their home countries to the markets where they have business activities and earn profits, regardless of whether firms have a physical presence there. 
Pillar Two introduces a global minimum corporate tax rate set at 15%.  The new minimum tax rate will apply to companies with revenue above EUR 750 million and is estimated to generate around USD 150 billion in additional global tax revenues annually.

See Announcement 

Comments are closed.
    Subscribe now!

    Archives

    February 2023
    January 2023
    December 2022
    November 2022
    October 2022
    September 2022
    August 2022
    July 2022
    June 2022
    May 2022
    April 2022
    March 2022
    February 2022
    January 2022
    December 2021
    November 2021
    October 2021
    September 2021
    August 2021
    July 2021
    June 2021
    May 2021
    April 2021
    March 2021
    February 2021
    January 2021
    December 2020
    November 2020
    October 2020
    September 2020
    August 2020
    July 2020
    June 2020
    May 2020
    April 2020
    March 2020
    February 2020
    January 2020
    December 2019
    November 2019
    October 2019
    September 2019
    June 2019
    May 2019
    April 2019
    March 2019
    February 2019
    January 2019
    December 2018
    November 2018
    October 2018
    September 2018
    August 2018
    July 2018
    June 2018
    May 2018
    April 2018
    March 2018
    February 2018
    January 2018
    December 2017
    November 2017
    October 2017
    September 2017
    August 2017
    July 2017
    June 2017
    May 2017
    April 2017
    March 2017
    February 2017
    January 2017
    December 2016
    November 2016
    October 2016
    September 2016
    August 2016
    July 2016
    June 2016
    May 2016
    April 2016
    March 2016
    February 2016
    January 2016
    February 2014

COMTAX AB

H3 Business Center
Biogränd 7
SE-572 30 Oskarshamn
Sweden

CONTACT

Tel.: +46 46 590 07 70
E-mail: support(@)comtaxit.com

INFORMATION

Privacy Statement
Partner Program
Picture
© COPYRIGHT 1985 - 2021 COMTAX AB.  ALL RIGHTS RESERVED.
  • Home
  • Products
  • NEWS
  • Partners
  • Contact
  • Join us
  • FAQs
  • Login