Tom Gottfried Featured in Bloomberg Tax

Multinationals Get a Breather on BEPS

By: Tom Gottfried

New York, NY (September 30, 2022) Tom Gottfried, managing director specializing in global tax matters with Valuation Research Corporation, published an update on the BEPS Pillar Two initiative in Bloomberg Tax.

“Companies with complex cross-border tax considerations have bought some time on BEPS Pillar Two implementation. Still, it seems likely the minimum tax will be effective in the EU by the end of next year. And other jurisdictions—besides the US—either have already adopted it or are likely to do so. It’s not too early for affected tax filers to begin doing some pro forma effective tax rate calculations and planning,” Gottfried writes.

In the article, “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.

Gottfried previously has written about BEPS for the same publication: “Multinationals Should Skate Toward Release of BEPS Model Rules” and “With Global Tax Deal Close, It’s Time to Assess Implications.

The full article is available on the Bloomberg Tax website.

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