Hard hat area: the OECD's Blueprints on Pillar One and Pillar Two Cross-border Tax Talks

Doug McHoney (PwC's US International Tax Services (ITS) Leader) and Pat Brown (PwC's International Tax Policy Leader) discuss the OECD's recently released blueprints on Pillars One and Two. Doug and Pat discuss: Pat becoming the most frequent Cross-border Tax Talks guest (four) and the sizing for Pat's 'Five-Timers' jacket when he next appears (spoiler: 42 Long); the background of the OECD's base erosion and profit shifting (BEPS) project and the progression from 'BEPS 1.0' to 'BEPS 2.0'; the background of Pillar One, including a discussion of 'Amount A' and 'Amount B'; the background of Pillar Two, including a discussion of the 'undertaxed payments rule' and the 'income inclusion rule'; highlights from the OECD's Blueprint on Pillar One, including the concept of 'consumer-facing businesses'; highlights from the OECD's Blueprint on Pillar Two, including the OECD's 'jurisdictional-blending' approach and the 'income-inclusion' regime; and what the future looks like for BEPS 2.0 implementation in 2021 and beyond.