The Use of Financial Accounting Information in the OECD BEPS 2.0 Project: A Discussion of the Rules and Concerns

This paper discusses the Organisation for Economic Co-operation and Development’s Two-Pillar proposal for changing the global international corporate tax regime. We focus on the use of financial accounting income as part of these tax rules. We provide a relatively high-level explanation of the rules...

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Bibliographic Details
Published in:National tax journal 2023-03, Vol.76 (1), p.193-232
Main Authors: Hanlon, Michelle, Nessa, Michelle
Format: Article
Language:English
Subjects:
Accounting
Accounting standards
Auditors
Corporate taxes
Economic development
Financial accounting standards
Financial reporting
Income taxes
International taxation
Taxation
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Summary:This paper discusses the Organisation for Economic Co-operation and Development’s Two-Pillar proposal for changing the global international corporate tax regime. We focus on the use of financial accounting income as part of these tax rules. We provide a relatively high-level explanation of the rules, and we discuss some inconsistencies and complexities. We also discuss potential problems and unintended consequences for companies, financial statement users, tax authorities, financial statement auditors, and financial accounting standard setters as a result of using financial accounting income in the tax base.
ISSN:0028-0283
1944-7477
DOI:10.1086/723199