Week in Insights: New Year Brings New Pillar Two Tax Rules

Jan. 7, 2024, 3:00 PM UTC

Curated by Daniel Xu

Changes are underway to international tax policies under Pillar Two of the OECD-led global 15% minimum tax agreement. Notwithstanding sweeping, fundamental shifts in calculating tax obligations, the change that might be most readily felt is the reporting requirement for apps such as Airbnb and eBay.

As of Jan. 1, states that are a party to the Organization for Economic Cooperation and Development’s agreement must require online platforms that facilitate transactions to share details with tax authorities.

This was already the case for the US—subject to a $5,000 threshold for 2024. In many other countries, including ...

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