Over the past six months, the OECD has released multiple documents with more details on parts of the international tax deal agreed to by over 140 countries in 2021.
But even with the additional clarity from the Organization for Economic Cooperation and Development, there are still fundamental questions about key parts of the deal—such as a simplified transfer pricing method, known as Amount B—that remain.
The tax agreement comprises two parts: a reallocation of large multinationals' residual profits, known as Pillar One, and a 15% global minimum tax, known as Pillar Two.
Alan McLean, chair of Business at OECD's tax committee, talked to Bloomberg Tax's Lauren Vella about how the deal's developments impact some of the world's largest multinational corporations, and what's most concerning to companies as the world moves forward with parts of the tax pact in 2024.
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