Pillar Two is now in force in Ireland, with the effect that a 15% minimum effective corporation tax rate applies to large corporate groups and standalone entities with a turnover of €75...
TaxOn 27 July 2023 the Department of Finance published its second feedback statement the draft legislation to implement the OECD’s Pillar 2 Rules.
TaxOn 31 March 2023 the Department of Finance published its first feedback statement the draft legislation to implement the OECD’s Pillar 2 Rules.
TaxAlmost a year after the EU Commission presented a proposal for a directive to implement the Pillar 2 rules, the EU Member States on 12 December 2022 reached the necessary unanimous agreement to...
TaxThe Irish Finance Bill 2022, which is due to be enacted this month, December 2022, provides for changes to the Irish research and development (R&D) tax credit and Knowledge Development Box...
TaxWe look here at recent key developments on the two-pillar solution and the statement published by the OECD/G20 Inclusive Framework last October, which dealt with a number of key...
TaxThis article provides a snap shot of what has happened since the agreement reached on 8 October 2021 by 136 jurisdictions of the OECD/G20 Inclusive Framework.
TaxIreland will sign up to the OECD Inclusive Framework political agreement on the two-pillar approach, following approval by the Irish Cabinet.
TaxOn 10 July 2021, the G20 endorsed that broad framework for Pillars 1 and 2 and the ambitious timetable for bringing the new rules into force in 2023.
TaxThere has been a further breakthrough in the process to reach international agreement on the BEPS 2.0 proposals, aimed at addressing the tax challenges arising from the digitalisation of the economy.
TaxOn Saturday 5 June 2021 the G7 finance ministers reached political consensus on proposals for a global minimum corporation tax of at least 15% to be determined on a country by country basis.
TaxThe European Commission's "Communication on Business Taxation for the 21st Century", published on 18 May 2021, sets out a number of tax proposals it aims to have implemented in the immediate future.
TaxThe OECD Pillar Two Blueprint published on 12 October 2020 is aimed at addressing challenges relating to the taxation of the digital economy.
TaxSpeaking at an Irish Department of Finance international tax seminar, held virtually on 21 April 2021, Irish Finance Minister Pascal Donohue indicated that the cost to Ireland of agreement on BEPS 2.0 is...
TaxPillar 1 of BEPS 2.0 is made up of two parts. One part, Amount A allocates a portion of deemed residual profits of certain in-scope multinational enterprises (MNE) to market jurisdictions.
TaxPhilip McQueston, Of Counsel, spoke with US and Brazilian attorney José Rubens Scharlack about inconsistencies José sees in the US position concerning the BEPS 2.0 project, highlighted in a recent article...
TaxOn 12 October 2020, the OECD/G20 Inclusive Framework on BEPS released the Pillar One and Pillar Two Blueprints, together with a public consultation document seeking stakeholder input on the Blueprints.
TaxWhat could be the final public consultation meeting on the BEPS 2.0 blueprints will be held this week on 14 and 15 January 2021.
TaxThe matter of directly addressing the tax challenges of the digitalised economy was effectively parked in the course of the OECD’s base erosion and profit shifting (BEPS) project.
TaxOn 12 October 2020, the OECD published its reports on the ‘Blueprints’ for its two-pillar proposal to address both the tax challenges arising from the digitalisation of the economy and the remaining...
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