The CCAB-I responded to the OECD/G20’s public consultation on its latest tax reform proposals “Pillar One and Pillar Two”. The OECD/G20 Inclusive Framework on BEPS is tasked with developing an internationally acceptable solution to the tax challenges of the digitalisation of the global economy. On 12 October 2020, the Inclusive Framework released a package consisting of reports on the Pillar One Blueprint and the Report on the Pillar Two Blueprint. Pillar One proposes to allocate a greater share of MNC profits to market/user jurisdictions. The current scope of Pillar One applies to digitalised businesses and consumer-facing companies with cross-border activity. Pillar Two proposes to address harmful tax practices by ensuring that all large companies pay a minimum level of tax on income regardless of where it arises.

The CCAB-I’s submission can be found in the Source Material section of this edition. All responses to the OECD’s consultation on the Pillar One and Pillar Two Blueprints on the tax challenges of the digitalisation of the economy are available to read on the OECD website.

The CCAB-I also participated in public discussions on Pillar One and Two on 14^th /15^th January.