France, Germany and the UK have called on their G20 partners to implement global rules to combat corporate tax avoidance. The call follows the release of an OECD report into base erosion and profit shifting, which said existing international tax rules have gone unchanged for almost a century and have failed to keep pace with globalisation and the constantly evolving business environment.
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Despite the relief, Brazil’s government has also presented a bill which seeks to re-impose a tax burden on companies’ payroll, one local tax specialist told ITR
While successful pillar two implementation will require collaboration across all units, a combination of internal and external tax advice is at the centre of the effort