GloBE Rules Made Easy

About this book:

GloBE Rules Made Easy is a remarkably pragmatic, self-contained book for an all-around understanding of the background and attributes of the OECD’s Global Anti-Base Erosion Rules (GloBE Rules). Published in December 2021, worldwide implementation of the OECD’s GloBE Rules promises to strike a powerful blow at the tax avoidance rampantly indulged in by many multinational corporations since global minimum tax rate of 15% in all countries is expected to curb shifting of profits from higher tax jurisdiction to lower tax jurisdiction or tax havens. This phenomenal book will prove to be a hands-on guide to the Inclusive Framework (IF) member jurisdictions preparing to implement this legislation.

What’s in this book:

The following features are elucidated in the book:

• text of each of the GloBE Rules’ ten chapters (including all forty-nine articles) along with both summary and detailed description;
• explanations of the Commentary and Illustrative Examples released by the OECD in March 2022;
• numerous flowcharts, tables, boxes, illustrations, and figures;
• elaborate technical discussions amidst specific policy considerations;
• analysis of IF Member jurisdictions regarding key parameters with suitable recommendations;
• ‘GloBE Rules at a Glance’ checklist encapsulating the features and application of the Rules in the form of FAQs; and
• implementation processes under way in ten representative jurisdictions.

The various publications and releases by the OECD up to 31 May 2022 are considered and meticulously elaborated upon.

How this will help you:

While battling to impede harmful tax competition and aggressive tax planning, there is a possibility that the GloBE Rules will finally succeed in creating a level playing field in the realm of taxation. Albeit OECD guidance and tax expert analysis may not suffice to comprehend the complexity of the Rules completely, this nonpareil book will prove to be extremely invaluable among a wide array of stakeholders, including taxation authorities, tax advisors and lawyers, and academics. Multinational enterprises also will derive adequate information to reap maximum benefits in their preparedness, readiness, and responses to the implementation of the Rules.