Hello everyone. My name is Peter Drey and I welcome you to the next episode of our

Taxbyte podcast. Today I have in my recording studio with me, Jill Fransons. He's an expert in

our team monitoring very closely the Pillar 1 developments. Stefan de Baats, senior council, former OCD, and monitoring as well very closely these

developments around Pillar 1.

And since you cannot talk about Pillar 1 without saying something on Pillar 2, I invited

also Jean-Philippe van West, senior council and close on the pillar two developments. Now, why have I invited

you all in my recording studio? Well, we have seen that the OECD has published a progress report

on pillar one. After all the developments in the past months on pillar two, we would almost

forget there is a pillar one. No, that's just a joke, of course.

But nevertheless, good to recap and refresh our minds.

So perhaps we will first have a little of an update before we go in a deep dive from you,

Stefan.

Can you just remind us what pillar one is?

And then we will talk about who will be impacted and some first reflections, Stefan. Can you just remind us what pillar one is? And then we will talk about who will be

impacted and some first reflections maybe. Thank you, Peter. And good day to all of you.

What the OECD was actually publishing three documents. There is the progress report, but at the same

time they published frequently asked questions and effect sheets, including high-level overviews with the

to the amount A rules on the pillar one and the process map for the next steps for applying the amount A rules.

It's important to indicate that this is not a consensus document except for the cover note and

this cover note is actually with regard to pillar one the first consensus

documents since the October 2021 release on the pillar one and pillar two document

so actually the progress report is a secretariat's note. We all know the origin of this process.

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