Pillar II

Pillar II refers to a framework established by the OECD, known as the Global Anti-Base Erosion (GloBE) proposal, aimed at addressing tax challenges arising from digitalization and globalization. This framework sets a minimum level of taxation for multinational corporations to ensure they pay a fair share of taxes in the countries where they operate. It seeks to prevent profit shifting to low-tax jurisdictions, promoting tax fairness and protecting government tax revenues. Essentially, it aims to create a more equitable global tax system that works for all countries in an increasingly interconnected economy.