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Organisation for Economic Co-operation & Development (OECD) Pillars 1 and 2: Tax policy reflections

A formal published “Ministerial Decision” is required as a record of the decision of a Minister (or an Assistant Minister where they have delegated authority) as they exercise their responsibilities and powers.

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A decision made on 12 April 2022

Decision Reference:  MD-ER-2022-271

Public

Subject: OECD Pillars 1&2: tax policy reflections

 

Report Title: OECD Pillars 1&2: tax policy reflections

Public

Decision(s):

The Minister approved the OECD Pillars 1 & 2: tax policy reflections and requested the Greffier of the States to arrange for it to be presented to the States as a report.

Reason for Decision(s):

The OECD is currently developing a two-pillar initiative to address the tax challenges arising from the increasing digitalisation of the economy. Under the OECD proposals, Pillar 1 will allocate some of the profits of the biggest multinationals to countries where their customers are located. Meanwhile, Pillar 2 - which comprises the Subject to Tax Rule (STTR) and the Global Anti-Base Erosion (GloBE) rules - effectively ensures that a minimum level of tax is paid. This paper offers policy reflections on these OECD initiatives from the Government. It provides information about the intended approach to both pillars. It also sets out the factors that Jersey will take into consideration when determining its final decision on its approach to GloBE.

Resource Implications: None

 

Action Required: The Minister requests that the Greffier arrange for the report to be presented to the States at 11am on Tuesday 12th April 2022.

Signature:

 

 

Signed By: Minister for External Relations and Financial Services

Date Signed:

 

 

Date of Decision (If different from Date Signed):

 

 

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