On December 17, TEI submitted comments to the Organisation for Economic Co-operation and Development (OECD) recommending that it simplify the Pillar Two reporting requirements.
TEI recommended that the OECD help coordinate the timing of payments, adjustments, and refunds across jurisdictions, which would reduce multinational enterprises’ compliance burdens. Other recommendations included implementing a robust exchange-of-information system and a template for an information reporting form.
TEI’s comments were drafted by members of its US International and EMEA Direct Tax Committees, along with the Tax Reform Task Force. Benjamin R. Shreck, TEI tax counsel, coordinated the preparation of TEI’s comments.
