By Ganesh Ramaswamy (December 6, 2021, 5:01 PM EST) — The Organization for Economic Co-operation and Development’s base erosion and profit shifting initiative, known as BEPS 2.0, aims to ensure a fairer distribution of taxing rights with respect to the profits of large multinational enterprises, or MNEs, and to set an overall minimum tax rate that countries must implement. The initiative is expected to have a significant impact on tax-friendly jurisdictions and MNEs.
The BEPS 2.0 package consists of two parts, commonly referred to as Pillar One and Pillar Two. The first pillar focuses on profit distribution and nexus, while the second pillar focuses on global minimum tax. The objective of this…
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