A comprehensive package for the Organisation for Economic Co-operation and Development (OECD) “side-by-side” arrangement (Inclusive Framework on base erosion and profit shifting (BEPS)), has been agreed to which outlines the way forward for the coordinated operation of the global minimum tax framework in the context of a globalized and digitalized economy. A series of simplification measures will reduce compliance burdens for multinational enterprises (MNEs) and tax authorities in calculating and reporting under the global minimum tax rules.
The Inclusive Framework