The inclusive framework statement of 8 October 2021 explained!

PwC's Tax Bites Podcast

PwC Belgium

Bites, Business, Workforce, Legal, Tax

5.0 • 1 Ratings

🗓️ 18 October 2021

⏱️ 22 minutes

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Summary

On 8 October 2021, the Inclusive Framework (IF) announced a further agreement backed by 136 (out of 140) members of the Inclusive Framework on the two-pillar approach. In the last few days, a number of countries that initially opposed the reform are now also signing up for it (e.g. Hungary, Ireland and Estonia). With this, all EU Member States that are part of the IF are supporting the reform. In this podcast we’ll discuss the key takeaways from the 8 October IF Statement. Furthermore we prov...

Transcript

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0:00.0	Hello everyone. My name is Peter Drey and I welcome you to the PWC TaxBite podcast series.
0:12.1	In this episode, we will talk about the most recent developments in the Pillar 1 and
0:17.0	pillar 2 debate, and that is a political consensus on a important reform of the international
0:23.9	tax landscape. For this discussion, for this podcast I have with me, first of all, Evie
0:29.9	here. Evie is a director in our global tax and transfer pricing team. She monitors these
0:34.8	developments very closely with a particular focus also on the US side of things.
0:41.1	Next, we have Jean-Philippe van West. Jean-Philippe is dividing his time between academic work and
0:46.1	work at PWC, but the bottom line is that Jean-Philippe is all day monitoring these developments as well,
0:52.6	and with a particular focus on the European side of things.
0:56.0	And last but not least, we have Stefan de Baats.
0:59.0	Stefan, senior council in our team and many years of experience in international organizations,
1:05.0	Belgian authorities, but overall a transfer pricing expert and he is here to talk about the Pillar 1 impact today.
1:15.0	So I suggest we could call it because this was quite an important announcement.
1:18.5	On 8 October, 136 countries signed on to the reform of the international tax landscape.
1:26.4	Pillar 1, pillar 2. So a lot of the international tax landscape. Pillar one, pillar two.
1:28.6	So a lot of documents were then published, likely not enough detail as we had hoped for.
1:34.8	But anyway, Stefan, I want to start with you.
1:37.1	And I want to ask you in a few minutes whether you were surprised by the announcements
1:41.6	and the documents that were issued.
1:44.4	What did you take from this?
1:48.1	Thank you Peter and good day to all of you.
1:50.4	Yes I was a bit surprised, not surprised that the documents were published, but surprised I would
	...

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