The European Parliamentary Research Service has issued a brief "At a Glance" report concerning the G7 Statement on a side-by-side arrangement that would exclude U.S. Parented Groups from the Pillar 2 Income Inclusion Rule (IIR) and Undertaxed Profits Rule (UTPR), with the U.S. minimum tax rules (GILTI / Net CFC Tested Income - NTCI) coexisting with Pillar 2. The main text of the report is as follows:
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Side by side? The future of Pillar Two minimum corporate tax rules
Following critic…