The OECD will officially publish its blueprints on 12 October on the design of the two pillars of international tax reform, announced the Director of the OECD’s Centre for Tax Policy and Administration, Pascal Saint-Amans, at an online conference organised by the Irish Institute of International and European Affairs on Tuesday 22 September.
The draft texts in question, that were leaked a few weeks ago, describe the main features of the building blocks of the two pillars and identify areas where a political decision is still needed (see EUROPE 12553/16).
“We have something almost ready for use but key parameters need to be solved”, he said, referring to the scope and the fraction of residual profits that would be allocated to market jurisdictions.
The blueprints are to be reviewed by the G20 Finance Ministers at their meeting on 14 October. Two days before, the OECD will publish the two texts with comments from members of the Inclusive Framework on BEPS and an impact assessment, Mr Saint-Amans promised.
Uncertainty nevertheless continues to weigh on the results to be expected from the G20 Finance meeting. In any case, the OECD “will wait until the U.S. elections” in November, Mr Saint-Amans said, again refuting claims that the United States has withdrawn from the negotiations.
At the same time, the European Commission has repeatedly reiterated in recent weeks that it would present a European solution in early 2021 if the OECD negotiations fail, Mr Saint-Amans noted, but remains convinced that there is a “very solid basis for finalising the negotiations” at the OECD.
What happens next, he said, would depend on the “level” of agreement that can be reached, but the OECD intends to launch public consultations on the blueprints in mid-October lasting until the end of the year, with a level of consultation that could nevertheless differ between the two pillars, he said. (Original version in French by Marion Fontana)