Washington D.C. – The National Foreign Trade Council (NFTC) today submitted comments to the OECD on the Public Consultation Document: Pillar One – Amount A: Draft Model Rules for Tax Base Determinations.
The comments, which “should be considered conditional pending the publication and review of all draft rules related to Amount A” lay out NFTC’s priorities with relation to uniform application, book-to-tax adjustments and consistency with Pillar Two, restatements and losses and profit shortfalls.
The letter also adds that the NFTC “looks forward to participating in an ongoing dialogue to develop uniform rules for tax base determinations that consider economic profit over time and do not result in double counting or double taxation of the same income.”
Full text of comments can be found here.
About the NFTC
Serving America’s Global Businesses Since 1914 – The National Foreign Trade Council (www.nftc.org) is a leading business organization advocating an open, rules- based global trading system. Founded in 1914 by a broad-based group of American companies, the NFTC now serves 100 member companies through its office in Washington D.C