The OECD has published a new convention on implementing Amount A of Pillar One. Amount A of Pillar One sets out rules for the reallocation of profits of the largest and most profitable multinationals to countries regardless of their physical presence. As such, it is seen as a key measure in bringing international tax policy into the modern era. The OECD has forecasted that the proposals could produce global annual tax revenue gains of as much as €32 billion with the greatest gains flowing to low and middle-income countries.
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