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Parliamentary questions
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3 August 2021
Answer given by Mr Gentiloni
on behalf of the European Commission
Question reference: E-002286/2021

On 1 July 2021, 130 jurisdictions of the Organisation for Economic Cooperation and Development (OECD)/G20 Inclusive Framework signed up to an agreement on the key features of a two pillar-solution for reforming the global corporate tax framework(1): a partial reallocation of taxing rights to market jurisdictions (Pillar 1) and the establishment of a global minimum effective corporate tax rate on multinational’s profits (Pillar 2). A further two jurisdictions subsequently signed up to the agreement, which was then endorsed by the G20 Finance Ministers on 9 July 2021(2). The Commission believes that this agreement marks an historic step in the modernisation of the global corporate tax framework. Work will now continue in view of solving the remaining technical details and preparing a worldwide implementation plan.

The new United States (US) administration has actively re-engaged in the discussions and expressed its support to the OECD/G20 process. It has officially signed up to the key features of both pillars of the agreement during OECD/G20 Inclusive Framework meeting on 1 July 2021, and the US Treasury Secretary Janet Yellen has endorsed the agreement during the G20 Finance Ministers meeting on 9 July 2021.

Successfully concluding the OECD/G20 process will require a final effort from all parties, and the Commission is committed to focusing on that effort. For this reason, the Commission has decided to put on hold its work on a proposal for a digital levy as a new EU own resource during this period.

(1)Statement on a Two-Pillar Solution to Address the Tax Challenges Arising From the Digitalisation of the Economy — 1 July 2021 (oecd.org)
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