Tom Gottfried, managing director specializing in global tax matters with Valuation Research Corporation, has been keeping on top of the OECD’s BEPS intitatives with ongoing updates published in Bloomberg Tax.

The full articles are available:

• Multinationals Just Bought Some Time on Implementing Pillar Two Gottfried explores delays in European implementation and what may be a fatal blow in the U.S., where a major tax overhaul that doesn’t meet the BEPS requirements passed in Washington, potentially suppressing any appetite among policymakers to do more on corporate taxes anytime in the near futures.
• Multinationals Should Skate Toward Release of BEPS Model Rules Gottfried explains that BEPS took a big step closer to becoming a reality in the last few months by releasing draft model rules for both Pillar I and Pillar II. The Pillar Two draft model rules were issues in December 2021, followed by two draft rules for Pillar One in February 2022: one that lays out how companies should determine the jurisdictional source of revenue and one that describes how they should determine their tax base.
• With Global Tax Deal Close, It’s Time to Assess Implications Gottfried suggests that while the framework is at least a copule of years away from full implementation, it’s not too soon for companies to engage in some analysis of its impact on their effective tax rate and to incorporate the possibility of its adoption into their long-term planning.