OECD published the updated list of countries, including Italy (with 15 %), that have obtained the transitional status of qualified legislation concerning the Income Inclusion Rule, the Undertaxed Profit or Payment Rule, or the Qualified Domestic Minimum Top-up Tax, following the review process conducted by the OECD Inclusive Framework on BEPS Pillar II.
On october 8, 2021, within the OECD/G20 Inclusive Framework (which now includes 147 member States), an agreement was reached among participating countries as part of the reform of the international tax system. This agreement introduced a two Pillar solution to address the tax challenges arising from the digitalization of the economy. Pillar II was specifically designed to ensure that multinational enterprises (MNEs) pay a minimum level of tax on the profits they generate globally.