On Sunday 31 October, the world’s twenty largest economies endorsed the agreement on international corporate tax reform which had been agreed upon by 136 countries in the OECD in early October (see EUROPE B12808A2).
This “historic achievement” will establish a “more stable and fairer” international tax system, the G20 said in its final declaration. It calls on the OECD to “swiftly” develop the model rules and multilateral instruments with a view to ensure that the new rules...