Washington D.C. – The National Foreign Trade Council (NFTC) today submitted comments to the OECD on the Administrative Guidance on the Global Anti-Base Erosion Model Rules (Pillar Two) released this July.
The comments once again stress that while the U.S. business community is supportive of the OECD’s process, it is critical for the Inclusive Framework (IF) to address the issues that still remain.
“The OECD has issued a multitude of guidance on this matter, but there are still issues that are being negotiated or otherwise yet to be resolved. At this juncture, it is going to be difficult for companies to apply Pillar Two without having a cohesive set of guidance that establishes consistent implementation and legal status across jurisdictions,” said Anne Gordon, NFTC Vice President for International Tax. “Until these concerns are addressed – many of which are enumerated in our comments – it will be hard for the U.S. business community to be fully supportive of this process.”
Download NFTC’s comments here.
About the NFTC
The National Foreign Trade Council (NFTC) is the premier business association advancing trade and tax policies that support access to the global marketplace. Founded in 1914, NFTC promotes an open, rules-based global economy on behalf of a diverse membership of U.S.-based businesses.