Global Tax Pact Administration Should Be Streamlined, Groups Say

The administration and compliance aspects of the global tax agreement’s reallocation of corporate profits need to be more streamlined, and some key issues remain unaddressed, a business group said Friday.

The Organization for Economic Cooperation and Development’s approach “falls short of the mark, imposing undue filing and administrative obligations,” the National Foreign Trade Council said in a comment letter to the OECD.

The NFTC, a US business lobbying group, was responding to an OECD request for comments on its rules on tax “certainty” concerning the reallocation process, under Pillar One of the two-pillar 2021 global tax agreement. Pillar One ...