OECD rules to implement 15% tax rate on multinational entities out

Rules prescribe method of calculation of excess profit, top-up tax, effective tax rate, etc

The Organization for Economic Co-operation and Development (OECD) has come out with a template for countries to implement the global agreement on imposing minimum 15 per cent tax on the multinational entities (MNEs) having annual turnover of over €750 million. Experts believe that India would mention rules to adjust for this template in the Union Budget for 2022-23. 

“We expect the Budget to provide heavy lifting on India’s position to jump start the practical application of the template and give life to these rules,” said Aravind Srivatsan, tax leader and partner, Nangia Andersen. The template is for implementing Pillar 2 of