On 06 May, the OECD has published a new public consultation document on “Pillar One – Amount A: Regulated Financial Services Exclusion”.
The Regulated Financial Services Exclusion will exclude from the scope of Amount A the revenues and profits from Regulated Financial Institutions. The defining character of this sector is that it is subject to a unique form of regulation, in the form of capital adequacy requirements, that reflect the risks taken on and borne by the firm. The scope of the exclusion derives from that requirement, meaning that Entities that are subject to specific capital measures (and only those) are excluded from Amount A.
The stakeholder input received on the Regulated Financial Services Exclusion will assist members of the Inclusive Framework on BEPS in further refining and finalising the relevant rules.
The public consultation is available here.
Interested parties are invited to send their written comments no later than 20 May 2022.
- Publication date
- 19 May 2022
- Directorate-General for Taxation and Customs Union