Jakarta ● Thu, January 27, 2022
On Oct. 8, 2021, all but four of the 140 member jurisdictions of the Organisation for Economic Co-operation and Development/Group of 20 (OECD/G20) Inclusive Framework on Base Erosion and Profit Shifting (IF) agreed by consensus to the revised blueprint of the two-pillar solution "to address the tax challenges arising from the digitalization of the economy", dubbed Pillar One and Pillar Two.
This monumental achievement was immediately echoed by G20 finance ministers in their October communiqué on plans to sign the multilateral convention (MLC) in mid-2022, followed by global enforcement in 2023.
This means that in less than two years, all member jurisdictions, including Indonesia, must prepare all necessary measures to implement both pillars while coordinating with the OECD's Task Force on the Digital Economy (TFDE) to finalize the rules.
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