The U.S. Congressional Research Services (CRS) has published an updated "In Focus" report dated 31 January 2024 on International Tax Proposals Addressing Profit Shifting: Pillars 1 and 2.
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International Tax Proposals Addressing Profit Shifting: Pillars 1 and 2
On June 5, 2021, finance ministers of the Group of 7 (G7) countries, including the United States, agreed in a communiqué to two proposals addressing global profit shifting. They agreed to Pillar 1, allocating rights of taxation…