The U.S. Congressional Research Services (CRS) has published an updated "In Focus" report dated 31 January 2024 on International Tax Proposals Addressing Profit Shifting: Pillars 1 and 2. --- International Tax Proposals Addressing Profit Shifting: Pillars 1 and 2 On June 5, 2021, finance ministers of the Group of 7 (G7) countries, including the United States, agreed in a communiqué to two proposals addressing global profit shifting. They agreed to Pillar 1, allocating rights of taxation of residual profits to market countries for large profitable multinationals while eliminating digital services taxes. They also agreed to Pillar 2, imposing a global...