Policy paper

Statement on transition to new Pillar 1 international tax rules

Joint statement regarding a compromise on a transitional approach to the international Pillar 1 tax agreement.

• From: HM Treasury
• Published: 21 October 2021

This was published under the 2019 to 2022 Johnson Conservative government

Documents

Statement on transition to new Pillar 1 international tax rules

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Details

On 8 October 2021, 136 members of the OECD/G20 Inclusive Framework have reached political agreement on the Statement on a Two-Pillar Solution to Address the Tax Challenges Arising from the Digitalisation of the Economy. This joint statement describes a political compromise reached among the United Kingdom, Austria, France, Italy, Spain and the United States on a transitional approach to existing unilateral measures, including Digital Services Taxes, while implementing Pillar 1 and allowing for the termination of trade measures adopted in response to Digital Services Taxes.

Published 21 October 2021