Communiqué Released by Japan’s Ministry of Finance: G7 Finance Ministers and Central Bank Governors Affirm Commitment to OECD’s Two-Pillar Solution for International Tax Reform.
“24. We re-emphasize our strong political commitment towards the swift global implementation of the OECD/G20 Inclusive Framework Two-Pillar Solution to address the tax challenges arising from globalization and the digitalization of the economy and to establish a more stable and fairer international tax system. We recognize significant progress in the negotiation of the Pillar 1 Multilateral Convention (MLC) and reaffirm our commitment to the swift completion of the negotiation so that the MLC can be ready for signature within the agreed timeline. We welcome the progresses in domestic legislation toward the implementation of Pillar 2 and call upon the Inclusive Framework to work on further administrative guidance for a globally consistent implementation. We will further provide developing countries with support for strengthening their tax capacity to build sustainable tax revenue sources, highlighting the importance of assistance for the implementation of the Two-Pillar Solution. We welcome the OECD’s “2023 Progress Report on Tax Co-operation for the 21st Century”.
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