The state of play on international tax reform

International tax reform remains in a state of flux. While efforts to resolve the known challenges of the digitalised, globalised, economy become more urgent, making genuine progress appears to be ever more difficult. In addition, different (and potentially harder) issues are emerging and coming to prominence. The pandemic has altered some key dynamics in the global economy, and augmented others, whilst the pace of technological advancement continues. The economic complications arising from addressing climate change and energy transition, workforce mobility and migration, and even greater digitalisation, will all demand an international response on tax, at a time when there is renewed emphasis on the importance of domestic financial affairs and national borders.

Read our article for Tax Journal which delves into the megatrends we are seeing across international tax with a focus on the progress and problems digitalisation is bringing. This article was originally published by Tax Journal on 14 December 2022.

You can also read our latest update on the implementation of the minimum tax for multinational groups under the OECD’s Pillar Two model rules.