Tax Readiness: Much ado about Pillar Two

On the first day of the Trump administration, President Trump signed an executive order stating that the previous administration's agreement to the Pillar Two project would "have no force or effect" within the United States absent an act by Congress. Additionally, the OECD released its fifth batch of substantive Administrative Guidance, covering transition rules on deferred tax assets, a list of countries that have (temporary) ‘qualified’ Pillar Two rules, an updated GloBE Information Return (GIR), an updated XML Schema and a Multilateral Competent Authority Agreement (MCAA) to facilitate central filing and exchange of the GIR. 

• Join us as we cover the most recent OECD administrative guidance, upcoming registration and notification deadlines and what President Trump's Executive Order means for the OECD Pillar Two Project.