The OECD today delivered the second part of its recommendations to reform international tax rules by tackling base erosion and profit shifting (BEPS). While unanimity across all points discussed was impossible, a higher level of agreement - either in the form of consensus or agreement on 'minimum standards' - has been achieved than many expected, though this has not stopped non-governmental organisations (NGOs) from criticising the package as "a sticking-plaster approach".
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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