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OECD releases IF Pillar One progress statement

12 July 2023

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Tax Alerts, Legislation & Policy, Information Reporting, Information Reporting, Legislation & Policy, National/Federal Taxation, OECD, Information Reporting, Legislation & Policy, BEPS 2.0

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United States

On July 12, the OECD published a press release and an "Outcome Statement" reflecting that the Inclusive Framework has made significant progress but has not reached a final agreement on Pillar One and that once a "small number of specific items are resolved" they will deliver a final Multilateral Convention (MLC) to be agreed by the end of the year. Both documents are attached below. The Outcome Statement notes:Amount AThe Inclusive Framework has delivered a text of a Multilateral Convention (MLC) (with a few unidentified open items), which will allow the Parties to the MLC to exercise a domestic taxing...