On July 27, Nareit submitted additional comments to the OECD in response to its Public Consultation Document on “Global Base Erosion (GLoBE)-Pillar Two” regarding taxation of the digital economy. Among other things, the OECD is considering global minimum tax rules (including additional cross-border withholding taxes). More information about the OECD’s plans to resolve the tax challenges of the digital economy is here.
Nareit provided initial comments to the OECD on Dec. 2, 2020. The July 27 comments provided additional information regarding REITs and again recommended that the OECD incorporate specific rules for REITs in the design of the GloBE proposal. The OECD intends to release a “blueprint” regarding Pillar Two in October 2020.
While it is expected that the OECD will hold a public consultation with respect to this blueprint, there is pressure by some members of the OECD for a Pillar Two solution by the end of 2020.”
(Contact: Dara Bernstein at dbernstein@nareit.com)