A lot of new information about a draft multilateral tax deal was made public by the Organization for Economic Co-operation and Development (OECD) last week. The dump of documents has to do with OECD Pillar 1, Amount A, which is a plan to change where big multinational businesses pay taxes on their profits.
In June, the European Commission suggested a new source of revenue as part of its second basket of own resources: a 'temporary statistical own resource based on company profits.' This is an effort to help the EU's budget while it pays off its debt. Previous ideas for new EU own resources have focused on narrower tax bases, such as a financial transaction tax (FTT), digital levies (DSTs), or taxes on crypto activities.
A lot of new information about a draft multilateral tax deal was made public by the Organization for Economic Co-operation and Development (OECD) last week. The dump of documents has to do with OECD Pillar 1, Amount A, which is a plan to change where big multinational businesses pay taxes on their profits.
