The Pillar One initiative of the Organisation for Economic Co-operation and Development (OECD) is part of the OECD/G20 Inclusive Framework on Base Erosion and Profit Shifting (BEPS). It focuses on reallocating the taxing rights of multinational enterprises (MNEs) to ensure that profits are taxed where economic activities and value creation occur, irrespective of whether the MNEs have a physical presence in the jurisdiction. It also aims to address the tax challenges arising from the digitalisation of the economy. Key aspects under Pillar One include the reallocation of taxing rights, Amounts A and B, a focus on the digital economy and a consensus-based approach.
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