Tax Notes Quotes Peter Barnes on Pillar Two

As of October 12, your correspondent has been writing these articles for exactly 40 years. This column is of the same vintage as Grant’s Interest Rate Observer, another first read of the day in its area.

Forty years ago, the world was different. Apple was a new company that made cute personal computers that no one would buy for business. It wasn’t in every portfolio, and it wasn’t scooping up personal information on trackers made in Asia. And it wasn’t the poster child of international IP tax planning.

. . . .

“The truth is countries are going to adopt this in different ways. There’s a template of broad terms that needs to be followed, but this isn’t a situation of where those bureaucrats over in Paris write our legislation and send it in for us to adopt it. There’s a lot more flexibility than that,” said Peter Barnes of Caplin & Drysdale at Tax Analysts’ Taxing Issues webinar on pillar 2.

For the full article, please visit Tax Notes’ website (subscription required).