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After several years of negotiations, the Inclusive Framework issued a statement on a two-pillar solution to address the tax challenges arising from the digitalisation of the economy on 1st July 2021. The agreement is a new two-pillar plan to reform international taxation rules. Seven of the Inclusive Framework’s 139 members had not joined yet.

The statement is a high-level political statement and states that further technical design work will be carried out between July and August 2021 to finalize the agreement in October.

This Technical Note sets out the current position agreed by the Inclusive Framework and the further technical design work to be undertaken between July and October 2021.