When new rules proposed by the US Treasury stopped the $160 billion Pfizer-Allergan super-inversion in early April many Americans applauded. Some grumbled about unfair tax loopholes or blamed Ireland’s 12.5% corporate tax for luring away American companies who pay up to 35% tax back home.
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Pillar two might be top of mind for many multinational companies, but the huge variations between countries’ readiness means getting ahead of the game now, argues Russell Gammon, chief solutions officer at Tax Systems.