G20 endorses global tax system overhaul

On July 10, G20 finance ministers have announced an endorsement to the Organisation for Economic Cooperation and Development’s (OECD) proposals related to a global tax system overhaul. In attempts to close the gap between where profits are taxed and at what rate, this historic global deal would lead to what the G20 calls a “more stable and fairer international tax architecture” for multinational companies.

In this podcast, David Sites, International Tax technical leader and partner in Grant Thornton’s Washington National Tax Office, discusses the latest updates from the July G20 meetings with Vikas Vasal, partner and global tax leader at Grant Thornton Bharat, Peter Vale, partner at Grant Thornton Ireland, and Pierre Bourgeois, partner at Raymond Chabot Grant Thornton.

We explore what’s happening on the ongoing overhaul of the global tax system -- specifically, the OECD Inclusive Framework’s Pillar One and Pillar Two blueprints. For more information, download our accompanying slide deck that illustrates these issues.