OECD Secretary General Report to G20 Released

The OECD on 24 July 2024 released its Secretary General’s Report to the G20 Finance Ministers and Central Bank Governors ahead of their 25-26 July meeting in Brazil.

With respect to Pillar Two, the Report notes a considerable achievement with an estimated 40 countries that have already implemented or are on track to implement the GloBE rules, and an estimated 60% of large MNEs expected to be covered by the IIR alone by the end of 2024, rising to 90% by 2025 when the UTPR comes into effect. P…