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answer text |
<p>The Government is delighted that more than 130 countries reached agreement on a
Two-Pillar solution to the tax challenges arising from the digitalisation of the economy,
on the 8 October 2021.</p><p> </p><p>As outlined in the October 2021 Statement, the
OECD will seek to develop an implementation framework by the end of 2022 which will
be designed to facilitate the co-ordinated implementation and administration of the
GloBE Rules.</p><p> </p><p>Discussions on the implementation framework are ongoing
and public input was recently sought on the issues that should be addressed as part
of this work, including the question of whether mechanisms are needed to avoid the
risk of double taxation: <a href="https://www.gov.uk/government/consultations/oecd-pillar-2-consultation-on-implementation"
target="_blank">https://www.gov.uk/government/consultations/oecd-pillar-2-consultation-on-implementation</a>.</p>
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