Negotiations on Pillar One of the OECD agreement on the taxation of multinationals are well underway, according to a report from the European Commission given to the EU Council on Friday 30 June.
“The Commission welcomes the great efforts and the progress made so far and urges all participants to make a final effort to reach an agreement on the multilateral convention to implement Pillar One”, it says. By way of a reminder, Pillar Two, which introduces a minimum tax rate of 15%, is...