OECD Business Lobby Calls for Urgent Minimum Tax Filing Changes

The OECD must urgently create “coordinated transitional solutions” for the upcoming global minimum tax filing deadline to counter jurisdictions’ lagging implementation and unresolved technical issues, a leading business lobby said.

Business at OECD, known as BIAC, called on the organization to introduce guidance that would allow for a coordinated extension or deferral of local filing deadlines for returns, and a clear “soft landing” approach that would remove any penalties in the first year of filing, in a letter seen by Bloomberg Tax.

The issues arising from the returns, called GloBE Information Returns, are “systemic and cannot be effectively ...