Countries involved in global tax talks at the OECD are developing a process to determine whether jurisdictions have appropriately applied the global minimum tax rules into their local laws.
In a report to the Group of 20 finance ministers, the Organization for Economic Cooperation and Development said that countries’ delegates—known as the Inclusive Framework—will develop “terms of reference” and “assessment methodology” for the tax’s peer review process.
Peer review at the OECD involves a group of countries determining whether a single country has applied minimum standards or rules properly.
The process for the global minimum tax will determine “whether domestic ...