The Complexities of Local Compliance
The recent efforts by the OECD to address Base Erosion and Profit Shifting (BEPS) have resulted in the development of a comprehensive framework, including Pillar Two, aimed at curbing tax avoidance by multinational enterprises (MNEs). While the OECD provides model rules and guidelines, it’s crucial to understand that these are not binding laws. Instead, each participating country is responsible for implementing and enforcing its own local legislation based on these models. This distinction between the OECD’s model rules and local country laws is at the heart of the challenges faced when designing and using software solutions for Pillar Two compliance.
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