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After announcing the 15 actions in the OECD BEPS package to deal with various measures tackling profit shifting and tax avoidance, the OECD and the G20 Inclusive Framework continued directing their efforts to address the tax challenges arising from digitalisation. This OECD initiative is referred to as the BEPS 2.0.
BEPS 2.0 has two parts or pillars, namely, Pillar One and Pillar Two. Pillar One is focused on the reallocation of (a portion of) the consolidated profit of a multinational enterprise to jurisdictions where sales arise as well as the standardisation of the remuneration of routine marketing and distribution activities. Pillar Two, on the other hand, introduces a global minimum effective tax rate of 15 %.
You can find key BEPS 2.0 related updates below:
We will continue updating you on the latest regarding BEPS 2.0 as it happens, so stay tuned.
Partner , Tax, PwC Middle East
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Tax & Legal Services Leader, PwC Middle East
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