KPMG report: Latest Pillar Two guidance provides some relief for U.S. multinationals, but concerns remain
How the latest guidance from the OECD may assuage some frustrations from U.S. businesses about the UTPR, even if temporarily.
Latest Pillar Two guidance provides relief for U.S. multinationals, but concerns remain
The latest tranche of administrative guidance from the Organisation for Economic Cooperation and Development (OECD) on Pillar Two was released Monday. Read TaxNewsFlash
Guidance on the treatment of tax credits and a transitional undertaxed profits rule (UTPR) safe harbor are the most consequential for U.S.-based multinationals.
Read a July 2023 report* [PDF 181 KB] prepared KPMG LLP tax professionals that explains how the latest guidance from the OECD may assuage some frustrations from U.S. businesses about the UTPR, even if temporarily.
*This article originally appeared in Bloomberg Tax (19 July 2023) and is provided with permission.
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