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World’s Biggest Companies May Never Escape New Global Tax Rules

May 23, 2022, 12:53 PM

Countries are considering cementing companies that are currently in scope of proposed international tax rules there permanently, even if a company subsequently drops below the threshold for inclusion, a negotiator on the global deal said Monday.

In October, more than 130 countries signed up a two-pillar plan to change how multinationals are taxed. Pillar 1 would see countries reallocate a part of the profits of the largest, most profitable companies from their headquarters jurisdiction to countries where they make sales.

  • Pillar 1 is targeted at around 100 of the largest multinationals, with over 20 billion euros in annual sales and ...