This factsheet highlights the main provisions in the OECD’s Pillar Two GloBE proposals. The European Union’s (EU) Directive to implement these could considerably impact some very large businesses.
Large groups based in Europe need to take action to determine whether they are in the Directive’s scope, what information systems need to be implemented, what the likely impact will be and whether any exemptions are available.
The number of affected businesses should remain limited but the Directive is long and complex. Those businesses and their advisors should therefore begin risk analysis as soon as possible.