OECD publishes consultation document on the introduction of a global minimum tax on profits
Elisabetta Pfister
As part of its project on taxation of the digital economy, the Organisation for Economic Cooperation and Development (OECD) published the consultation document on the introduction of a global minimum tax on profits (so-called "Global anti-Base Erosion" or "GloBE") on 8 November 2019.
The global minimum tax represents the 2nd pillar of the work programme published on 31 May 2019 to meet the challenges for the taxation of the digital economy (on the 1st pillar see taxlawblog contribution of 12 October 2019).
The OECD proposal provides for the introduction of a global approach to avoid the erosion of the tax base. In other words, it aims to ensure that all internationally active companies are subject to a minimum tax rate anywhere in the world.
The consultation document is open for public consultation until 2 December 2019. The comments received should then provide the basis for a final taxation solution to be published in the OECD Final Report 2020.
The consultation document is available here.
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