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Countries Prepare Global Tax Pact Rules for 2023 Start Date

Jan. 3, 2022, 9:45 AM

More than 135 countries backing a deal to overhaul global tax rules are poised to use 2022 as the year to move forward with the bulk of technical work needed to carry out the plan.

The OECD-brokered agreement—reached in October—has set a 2023 deadline for governments to implement the plan. OECD officials and countries will need to figure out the remaining details of the plan’s two parts: a reallocation of the profits of the world’s largest multinationals—known as Pillar One—and a 15% minimum tax rate—known as Pillar Two.

The Organization for Economic Cooperation and Development aims to release a ...