Bloomberg Tax
Free Newsletter Sign Up
Login
BROWSE
Bloomberg Tax
Welcome
Login
Advanced Search Go
Free Newsletter Sign Up

Australia Seeks Input as it Mulls Adoption of Global Tax Deal

Oct. 4, 2022, 12:49 PM

Australia is asking for feedback as it considers adopting the two-part global tax overhaul.

The global tax deal, backed by nearly 140 countries in 2021, would reallocate a portion of the largest multinationals’ profits to the countries where they make sales—known as Pillar One—and apply a 15% global minimum corporate tax rate—known as Pillar Two. Countries are still negotiating the design of Pillar One, but some have started planning a possible implementation of Pillar Two.

The Treasury is asking for feedback by Nov. 1 on the impact, design, and implementation of both measures.

It’s too soon to measure ...