On Monday 5 January, the 147 countries and jurisdictions collaborating within the OECD/G20 Inclusive Framework on Base Erosion and Profit Shifting (BEPS) approved the key elements of a package to ensure the coordinated operation of global minimum tax arrangements.
After several months of negotiations, the agreement for a “side by side” arrangement (see EUROPE B13670A7) should preserve the gains achieved under the global minimum tax framework and protect the ability for all...