OECD Secretary-General Tax Report to G20 Leaders G20 Brazil published by OECD (11/2024)
“Ahead of the G20 Leaders’ Summit under the Brazilian G20 Presidency, I am pleased to report to you on key tax developments since my last report to you in September 2023.
In a significant development, 57 jurisdictions gathered in Paris on 19 September to support the signing ceremony of a new multilateral treaty to implement the Subject to Tax Rule (STTR), further strengthening global minimum taxation and providing developing countries with a more straightforward tool to help ensure they receive their fair share of tax revenue. Developing countries are often the source of significant outbound payments that can be subject to low or no taxation. The STTR taxes any such payments when they are undertaxed in the recipient’s jurisdiction, helping to protect their tax base. More than 70 developing country members of the G20/OECD Inclusive Framework on BEPS (Inclusive Framework) are eligible to request inclusion of the STTR in their agreements with other members of the Inclusive Framework in accordance with the commitment on the STTR, either through bilateral amendments to tax agreements or the new multilateral treaty (STTR MLI). The STTR MLI was approved by the Inclusive Framework in September 2023 and 19 Inclusive Framework members signed the MLI (or a letter of intention to sign the MLI as soon as possible) on 19 September 2024…”
