OECD’s New Progress Report on Pillar One

Episode Duration:
70 minutes

Episode Background:
On July 11, the OECD released the Secretary-General’s Tax Report to G20 Finance Ministers and Central Bank Governors, which includes a new Progress Report on Pillar One, presenting a comprehensive draft of the technical model rules to implement a new taxing right that will allow market jurisdictions to tax profits from some of the largest multinational enterprises (“Pillar One”). This report will now be subject to public consultation through to mid-August. Thereafter, the Inclusive Framework will aim to finalize a new Multilateral Convention by mid-2023, for entry into force in 2024. In this context, this revised timeline, previously flagged by OECD Secretary-General Mathias Cormann and agreed by the Inclusive Framework is designed to allow greater engagement with citizens, business and parliamentary bodies which will ultimately have to ratify the agreement.

What shall the episode cover?
Against this backdrop, Taxsutra is delighted to present to you a riveting panel discussion on the theme of “OECD’s Progress Report on Amount A of Pillar One – Traversing Through the Developments”. Our panel of respected experts viz. – Mr. Sobhan Kar (Senior Advisor, Deloitte India and former IRS Officer) & Mr. Rajendra Nayak (Partner, Ernst & Young LLP) have extensively deliberated on the aforesaid theme and provided their candid views on the ramifications and way forward. The discussion has been moderated by Mr. Ameya Kunte (Founder, Globeview Advisors LLP).