Pillar I of international tax reform, as agreed by the G20/OECD Inclusive Framework on 1 July (see EUROPE B12753A1), is expected to affect only 78 of the world's 500 largest companies, according to the latest study published, on Monday 5 July, by the European Network for Economic and Fiscal Policy Research (EconPol).
Pillar I will allocate part of the profits of very large multinationals to the countries in which they make sales. Under the agreement reached by the 130 countries last week,...