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Webcast - How will the G7 commitment to Pillars 1 and 2 impact your business?

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We are pleased to invite you to our next webcast focusing on the G7 Tax Policy agreement. 

Wednesday, 23 June 2021, 2:00 pm CET

The G7 Finance Ministers announced an agreement on June 5, in which the participating countries committed to new taxing rights that allow countries to reallocate some portion of profits of large multinational companies to markets (i.e., where sales arise - 'Pillar One’), as well as enact a global minimum tax rate of at least 15% (‘Pillar Two’). 

The G7 Finance Ministers noted a commitment to reaching an equitable solution on the allocation of taxing rights, with market countries awarded taxing rights on at least 20% of profit exceeding a 10% margin for the largest and most profitable multinational enterprises. The Ministers assured that they will provide for appropriate coordination between the application of the new international tax rules and the removal of all Digital Services Taxes, and other relevant similar measures, on all companies. In addition, they committed to a global minimum tax of at least 15% on a country by country basis.

As the largest world economies, any actions taken by G7 countries often have significant effects on global issues. In July, G20 Finance ministers are meeting, and any decision taken then by the G20 is more likely to have an impact on the forward movement of the OECD project. There nevertheless remain numerous political and technical elements of disagreement among countries, as well as an implementation challenge as the European Union must unanimously agree to certain legal changes for tax issues in their Directives.

Members of our Global Tax Policy team and our experts will discuss the G7 Finance Ministers’ agreement, including:

  • New taxing rights for large multinational companies
  • Global minimum tax rate of at least 15%
  • July G20 Finance Ministers impact on global tax changes 
  • Challenges for global implementations

Please follow the link to register for the session and we look forward to discussing this important topic with you.

Ståle Wangen

Ståle Wangen

Jeg heter Ståle Wangen og jobber som advokat i Advokatfirmaet PwC. Jeg leder PwC Norges avdeling for internasjonal skatt og jobber til daglig med å bistå norske og utenlandske virksomheter med skatteplanlegging, strukturering av kjøp og salg av virksomheter, internprising og andre spørsmål knyttet til bedriftsbeskatning i Norge og utlandet. Jeg har mer enn 20 års erfaring med skatterådgivning.

Skatteverdenen blir stadig mer internasjonal og kompleks. Ved kjøp og salg av varer og tjenester utenfor Norges grenser må norske virksomheter håndtere skatteregler både i utlandet og i Norge. PwC har kontorer i de fleste land og vi har et unikt nettverk av skatterådgivere som kan bistå med spesialkompetanse på de fleste områder. Jeg håper mine innspill kan gi deg en alternativ innfallsvinkel til ulike temaer enn hva tradisjonelle nyhetsbrev gir.

Ta gjerne kontakt dersom du har spørsmål, kommentarer eller innspill.

My name is Ståle Wangen and I work as a partner and lawyer in PwC Tax and Legal Services in Oslo. I am head of PwC Norway’s international taxation services, and I have more than 20 years of experience assisting Norwegian and foreign businesses with tax planning, cross border restructuring, mergers and acquisitions (M&A), transfer pricing and other issues related to corporate taxation

Tax world is becoming more international and complex. Norwegian companies must increasingly handle tax rules abroad. PwC has offices almost all over the world and we have a unique network of tax advisors who can assist with expertise in most areas.

Please feel free to contact me if you have any questions, comments or input.

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