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The US withdrawal from Pillar Two and its impact on European taxation and competitiveness
By Andreas MEDLER, Partner - International Corporate Tax, ATOZ Tax Advisers*
On his inauguration date (20 January 2025), US president Trump issued numerous executive orders (“EOs”) on a variety of different topics, including the US commitment to the “Global Tax Deal”. This undefined term used in the public communication of the White House mainly refers to the global minimum tax rules agreed upon at OECD/G20 level, i.e., the so-called Global Anti-Base Erosion (“GloBE”) rules or “Pillar Two”(1).
While the US were amongst the driving initiators of the Pillar Two initiative, the GloBE rules have not been...
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