Pillar Two: OECD releases further materials

On 17 July 2023, the OECD released new guidance regarding the OECD/G20 Two Pillar Solution. This coincides with the G20 Finance ministers meeting and the OECD Secretary General’s Tax report.

The pieces of guidance on Pillar Two are:

• Further Pillar Two Administrative Guidance (Administrative Guidance)
• Revised GloBE Information return (GIR)
• Subject to tax Rule provisions (STTR)

A public consultation document on Pillar One Amount B (Amount B consultation) was also released, relating to the baseline wholesale distributors. More to follow on this consultation in an Australian context.