Chiomenti and Cuatrecasas joint comments in the framework of the OECD Public Consultation under Pillar Two
Chiomenti and Cuatrecasas have delivered their joint comments in the framework of the OECD Public Consultation under Pillar Two.
In May 2019 the OECD/G20 agreed upon a Programme of Work in order to address the tax challenges of the digitalisation of the economy.
The Programme of Work includes the “Pillar Two” issues tackled by the Global Anti-Base Erosion (GloBE) Proposal, which has the main goal to introduce rules that would provide jurisdictions with a right to "tax back" the MNE group where other jurisdictions in which the group operates have not exercised their primary taxing rights or applied low levels of effective taxation.
To make progress towards reaching a consensus solution among Countries to Pillar Two issues, the OECD Secretariat launched in November 2019 a consultation document based on the GloBE Proposal in relation to which the two Law Firm put forward their comments