- Pillar One is about reallocating a portion of the profits of large multinational enterprises (MNEs) from their home countries to the market jurisdictions where their consumers are located, regardless of physical presence. - Pillar Two introduces a global minimum corporate tax rate, primarily set at 15%, to ensure that MNEs pay a minimum level of tax on their profits, regardless of where they are headquartered or operate.
Recently, the term ‘two-pillar solution/two- pillar package' often seen in the news, refers to
Asked in UPSC CDS 1 2022 · Topic: Fiscal Policy & Revenue (Taxation System in India: Direct, Indirect taxes, and Tax Reforms (including GST))
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