Companies Urged to Start Preparing for Global Tax Deal

Tax directors around the world are grappling with a two-pillar global tax agreement that will require multinational companies to change where and how much tax they pay. As details of how these complex new rules will work in practice come to light, some companies have begun modeling their effect on their tax bills. Rio Tinto PLC, which is part of the OECD's business advisory group, has had a front row seat during the development of the rules and has already put together a team to analyze their impact. On this episode of Talking Tax, we speak with Mark Munsel, general manager of the OECD digital project at Rio Tinto. He heads up the multi-disciplinary team at the company that has been tasked with figuring out how the rules work. Munsel advises companies to start early and begin collecting and organizing the data required to comply with the rules, or risk not being ready when countries start implementing them. Do you have feedback on this episode of Talking Tax? Give us a call and leave a voicemail at 703-341-3690.