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<p>Reaching a two-pillar solution on global tax reform which reallocates taxing rights
and introduces a global minimum tax has been a long-standing priority for the UK.</p><p>
</p><p>The Government is delighted that the G7 agreement secured on this in June has
formed the basis for an historic agreement among over 130 members of the OECD Inclusive
Framework. The Government looks forward to continuing discussions with its global
partners in the coming months with a view to finalising the details by October.</p><p>
</p><p>Securing and implementing a final agreement on this will help stabilise the
international tax framework and ensure multinational businesses pay their fair share,
with the right companies paying the right amount of tax in the right place.</p><p>
</p><p>If final agreement is reached and both pillars are implemented in the UK, they
would be subject to standard tax policymaking process, with their impacts formally
assessed through the OBR forecast process.</p><p><strong> </strong></p><p><strong>
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