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Fatal flaws of OECD Pillar Two Global Minimum Tax Foundation

The Fatal Flaw of Pillar Two

Pillar Two, the international global minimum tax agreement, has a considerable chance of failing and may ultimately allow the same problems it was designed to address.

6 min read
global tax agreement global tax deal OECD global minimum tax rules corporate minimum tax rules Secretariat Proposal, OECD Public Consultation Document, Unified Approach under pillar one profit shifting definition tax planning and avoidance foreign direct investment FDI global tax deal impact of global tax agreement OECD international tax proposal

The Latest on the Global Tax Agreement

The agreement represents a major change for tax competition, and many countries will be rethinking their tax policies for multinationals.

7 min read
Tax competition and the global minimum tax: the latest on the global tax agreement at the OECD

What’s Next for Tax Competition?

The rules of tax competition are changing with the recent agreement on a global minimum tax and other changes to tax rules around the world, but that does not mean the contest is over.

5 min read
CCCTB vs. BEFIT: EU Corporate Tax Base: Details & Analysis

CCCTB vs. BEFIT: How Have the Proposals Changed?

If the EU is going to harmonize its tax base, it should do so in a way that increases the efficiency and competitiveness of tax policy for the EU as a whole, and not just seek out the lowest common denominator.

5 min read
Pillar One US Treasury Consultation on OECD proposal for public review input and comments

Five Takeaways from the New Pillar One Documents

The OECD recently released a trove of new documents on a draft multilateral tax treaty. The U.S. Treasury has opened a 60-day consultation period for the proposal and is requesting public review and input.

7 min read
OECD global tax deal Pillar Two revenue estimate by country of annual and average corporate tax revenue

Select Country-Level Revenue Estimates for Pillar Two

Pillar Two implementation is underway in many jurisdictions, and many governments are aiming to get their proposals approved before the end of 2023. However, estimating Pillar Two’s impact on government revenue is proving difficult. As a result, only a few countries have publicly presented their findings.

7 min read
2023 carbon tax rates in Europe and other information related to carbon taxes in Europe

Carbon Taxes in Europe

In recent years, several countries have taken measures to reduce carbon emissions, including instituting environmental regulations, emissions trading systems, and carbon taxes. In 1990, Finland was the world’s first country to introduce a carbon tax.

4 min read
UN tax cooperation efforts Tax Foundation response on cross border trade and investment United Nations general assembly

Global Tax Tug of War: Comparing the UN and OECD Approaches

The United Nations (UN) is preparing to flex its muscles on international tax policy. Several developing countries say the OECD’s approach favors richer countries at their expense, and the UN hopes to fix this.

5 min read
Canada digital services tax Canada digital tax proposal health care premiums and Canada marginal tax rates and Canada upward mobility

Another Digital Services Tax in Sight

Canada is planning to join the club of countries that, in the past 3 years, introduced a digital services tax (DST) despite U.S. opposition and concerns expressed by Canadian businesses.

4 min read

Weeding the Garden of International Tax

Simplifying international tax rules will not solve all the challenges that stand in the way of healthy cross-border investment, but eliminating unnecessary provisions would be a positive pivot relative to the trajectory of recent years. It’s high time that policymakers stopped pursuing ever more complex rules and started the hard work of simplification.

6 min read
EU wealth tax discussion and debate EU wealth tax proposal 2023

The Wealth Tax Discussion Is Back

Given that wealth taxes collect little revenue and have the potential to disincentivize entrepreneurship and investment, perhaps European countries should repeal them rather than implement one across the continent.

4 min read
utpr pillar two us tax base oecd global minimum tax ways and means jason smith

Why Does the UTPR Matter?

As the UTPR is a new concept, it is worth explaining what it is and why Rep. Smith cares about it. In a sentence, the Undertaxed Profits Rule (UTPR) is a looming extraterritorial enforcement mechanism for a tax base the U.S. has not adopted.

6 min read
What the EU Carbon Border Adjustment Mechanism Means for Europe and the United States EU CBAM or EU carbon border tax

What the EU’s Carbon Border Adjustment Mechanism Means for Europe and the United States

The Carbon Border Adjustment Mechanism (CBAM) is a key aspect of the EU’s broader Fit for 55 package which aims to cut 55 percent of net greenhouse gas (GHG) emissions in the EU by 2030. The growing number of competing climate policies between the EU and U.S., such as tax provisions in the Inflation Reduction Act, could present policymakers on both sides of the Atlantic an opportunity to work together.

5 min read
Ways & means tax proposal seeks to combat extraterritorial taxes and discriminatory taxes Global minimum tax revenue OECD Pillar Two revenue OECD impact assessment OECD Pillar One tax Pillar one amount a Biden interest limitation Biden interest deduction rule Biden interest expense limitation Business interest expense limitation Democrat Senate international tax overhaul discussion draft legislation (Wyden Brown Warner international tax overhaul) or Sen Wyden international tax plan,

What the OECD’s Pillar Two Impact Assessment Misses

The process leading to the global minimum tax has been messy, and the mess will likely continue for years to come. New revenues are hardly a salve for the setback they represent.

7 min read
Transatlantic Trade and Investment Partnership (T-TIP) US EU tax and trade policy why Congress should care about EU tax policy

In the Shadow of T-TIP: Why Congress Should Care About EU Tax and Trade Issues in 2023

The EU’s unilateral approach with carbon taxes, faster track on the global minimum tax, and threat of renewed efforts on DSTs means that U.S. policymakers face some hard choices. Policymakers on both sides of the Atlantic should keep in mind pro-growth tax and trade principles that promote a rules-based international order and increase opportunity.

7 min read
digital services taxes in europe EU and OECD digital services tax Pillar One Digital taxes and tariffs

Digital Services Taxes: Is There an End in Sight?

As it stands, Pillar One would usher in the end of many digital services taxes (though perhaps not all) at the cost of increased complexity (in an already complex and uncertain system).

4 min read