UK: Initial analysis of OECD’s model competent authority agreement on application of Amount B under Pillar One
MCAA can be used to apply Amount B when there is a tax treaty in place between two jurisdictions
The Organisation for Economic Cooperation and Development (OECD) on September 26, 2024, issued a Model Competent Authority Agreement (MCAA) on the Application of the Simplified and Streamlined Approach of Amount B under Pillar One. Read TaxNewsFlash
Read an October 2024 report prepared by the KPMG member firm in the United Kingdom that provides initial analysis of the MCAA and describes how the MCAA can be used to apply Amount B when there is a tax treaty in place between two jurisdictions.