Insight - What’s the fuss about OECD’s blueprint?

REFORMING the international tax system to address the tax challenges arising from the digitalisation of the economy and restoring stability to the international tax framework have been a priority of the Organisation of Economic Co-operation and Development (OECD) under its Base Erosion and Profit Shifting (BEPS) initiative in recent years.

The OECD secretariat suggested a two-pillar approach in 2019 that was intended to ensure fairness and equity in tax systems and reforming the international tax framework in the face of new and changing business models.