• What you need to know about BEPS 2.0: Pillar One and Pillar Two

  • May 24 2024
  • Length: 16 mins
  • Podcast

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What you need to know about BEPS 2.0: Pillar One and Pillar Two

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  • Summary

  • The OECD BEPS 2.0 project consists of two pillars. Pillar One applies to the biggest and most profitable multinational enterprises and reallocates part of their profit and taxing rights to the countries where they sell their products and services. Pillar Two introduces a global minimum corporate tax of 15% to prevent tax avoidance and base erosion.

    The U.S. has not yet adopted the OECD project into its tax system, but it will still impact U.S. multinational businesses that operate abroad. Practitioners need to know about the OECD project because it is a major change in the international tax system that will affect many multinational enterprises and their tax compliance.

    AICPA resources

    OECD BEPS 2.0 - Pillar One and Pillar Two — The OECD BEPS 2.0 sets out to provide a tax reform framework allowing for more transparency in the global tax environment.

    Advocacy

    Comments to Treasury on tax issues of OECD Pillar Two, Feb. 14, 2024

    Comments to Treasury on Amount B of OECD Pillar One, Dec. 12, 2023

    Other resources

    OECD BEPS – Inclusive Framework on Base Erosion and Profit Sharing
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Management Economics
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