OECD Announces Inclusive Framework Agreement on Two-Pillar Solution to Address the Tax Challenges Arising from the Digitalisation of the Economy

The OECD has announced that 130 countries and jurisdictions in the BEPS Inclusive Framework have joined a statement agreeing to a two-pillar solution to address the tax challenges arising from the digitalisation of the economy. Nine Framework members have not yet joined the statement, including Barbados, Estonia, Hungary, Ireland, Kenya, Nigeria, Peru, Saint Vincent and the Grenadines, and Sri Lanka. The remaining work on the solution is to be finalized in October 2021, with a planned impl…