Top Tweets for #pillar1
The best way forward on (OECD's) #Pillar1 is a global solution. If not, an EU-wide approach. Failing that, a ‘coalition of the willing’ beats unilateral chaos — @WBHoekstra at @taxobservatory annual event "Competition or Cooperation? EU Tax Policies for Tomorrow".
#TaxThePower
🌍 Live from #WEFENexusConference 2025!
#PILLAR1: WEFE NEXUS IN GOVERNANCE
🎙️ Prof. Mohammed Behnassi, Senior Expert & Director of CERES
🎤 "The integration of WEFE NEXUS in governance is crucial for long-term sustainability and human security." 🌎💧
@PrimaProgram @SureNexus
Looking to enhance your expertise? #SMRP #TrainingAcademy is your ultimate online learning platform: #Pillar1: Business & Management - Your key to mastering strategic #MaintenanceAndReliability operations!
Explore now! 👉 https://t.co/fJg2VDWZnX
#ProfessionalDevelopment
And #Pillar1 seems as if it were designed specifically to advantage China and disadvantage the US, as I point out in @tax with @SteveMiran, who is @realDonaldTrump's nominee head the Council of Economic Advisers
https://t.co/mlACR3V5VW
The US must take into account the impact of any tax negotiations on our competitive position with regard to China. Pillar 2 is a disaster on this point:
"Yellen’s Global Minimum Tax Is a Boon for Beijing"
https://t.co/sV5uYKe93H
Further negotiations are needed on the mostly political issues preventing agreement on #amountB, a key part of #pillar1 of the two-pillar OECD/G20-led global tax reform plan, according to the OECD.
Read more from @PaezWrites: https://t.co/c0cbJbjlPN
#Pillar1 - Empowering Young Lawyers
Effective leadership begins with truly listening.
What plans does Atukunda have for the future of young lawyers?
Stay tuned to discover!
Former OECD tax chief @PSaintAmans has forewarned the EU’s future tax commissioner of the likely failure of #Pillar1 negotiations and possible tensions when the bloc starts collecting the minimum corporate tax.
Read more from @ElodieLamer: https://t.co/67MdVZ5i9k
A European digital services tax could be used as a stopgap until a deal on #Pillar1 of the two-pillar global tax reform plan is reached and could provide resources for the EU budget.
Read more from @ElodieLamer: https://t.co/hzIRV8UCU4
The end-of-June deadline for countries to conclude #Pillar1 tax reform negotiations has come and gone, but delegates are still making good headway toward a final agreement, the @OECDtax director said.
Read the full story from @StephanieSoong: https://t.co/GioTMIKP6q
Negotiators for 140+ countries are on the cusp of emerging this week with an OECD-brokered treaty on taxing digital companies
But US political gridlock means many fear the final #pillar1 package will never come into effect
w/ @paolatamma & @senoj_erialc
https://t.co/rExN2cxB4v
Jurisdictions in the @OECDtax inclusive framework on base erosion and profit shifting are close to finalizing #Pillar1 of a sweeping two-pillar global tax reform plan, according to an update from the group’s co-chairs.
Read more from @StephanieSoong: https://t.co/0A7eqJkc3P
Perspective: @InternationlTax examines whether the United States could ratify the multilateral convention to implement #Pillar1 and considers alternative paths forward as countries continue to seek to expand taxing rights on digital profits. https://t.co/vhNdAXGphU
The OECD inclusive framework on base erosion and profit shifting has advanced work on the #Pillar1 multilateral convention (MLC) and still aims to open it for signature in June, the OECD’s tax chief @ManalCorwin said.
From @StephanieSoong: https://t.co/rhhrHIh9Ix
Jurisdictions may have missed a key deadline to reach agreement on the text of the #Pillar1 multilateral convention (MLC), but the OECD remains optimistic about prospects for a deal, a top @OECDtax official said.
@StephanieSoong has the story: https://t.co/UOSdDjzqo2
Digital services taxes are likely to keep proliferating if countries can’t agree on #Pillar1 rules, but the main reasons for both kinds of measures are arguably weak, according to a Congressional Research Service report.
Read more from @StephanieSoong: https://t.co/jHaurloDFt
Important reading from former 🇦🇺 PM @TurnbullMalcolm .
Thank you for helping bring attention to this EXTREMELY significant strategic issue.
#AUKUS #PILLAR1 #SSN #INDOPAC #SEAPOWER
AUKUS in general is fantastic. It should exist. The concern is entirely about pillar 1. And not b/c we can't trust the Australians with SSNs or b/c these subs wouldn't be useful. Exact opposite on both points. We CAN trust Australia, and SSNs absolutely would be incredibly beneficial for enhancing the capabilities of the RAN and, by extension, the entire alliance network in the Indo-Pacific. To summarize, the potential problem with Pillar 1 boils down to 4 simple reasons.
A) The US Navy (USN) already does not have enough SSNs. It is way short of the # that it actually needs and will need in the coming years. The Royal Navy (RN) is *also* short on attack subs. The entire RN has 6 attack subs. And since they're needed to help protect carriers and the sea-based deterrent, the RN in practice has more like... 3 attack subs.
B) Both the American SSN DIB & the British SSN DIB are not where they need to be. Neither of us are able to build SSNs as quickly as needed. This is particularly problematic on the American side of the Atlantic given the scale of our navy and our AUKUS Pillar 1 commitments. We should be building 2.5 or 3 per year but instead are around 1.2 or 1.3 per year.
C) SSNs are, without question, one of the single most important platforms available to the entire US military in terms of deterring (and potentially fighting) the PLA in the Western Pacific. Particularly in a war over Taiwan. The US still has a real advantage in SSN technology whereas our edge over the PLA in other domains has substantially diminished. This is partially due to the scope, scale and quality of the PLA's rocket force / missile capabilities. Most of our aircraft and even our surface warships, e.g. carriers & destroyers, will be quite vulnerable to Chinese missiles when operating within or even near the 1st island chain. SSNs are special and more survivable. They're one of the few assets we have that can realistically and credibly operate within and around the Taiwan Strait in the early stages of a conflict against mainland China. War games and public reporting suggest that they'd play an absolutely critical role in slowing the PLA invasion of Taiwan due to their presumed ability to sink a large # of PLAN ships in and around the strait. And our SSGNs can rain conventional missiles on land targets, incl Chinese bases along the PRC coast and PLA forces that have landed on Taiwan. These are extremely important capabilities. If the USN already does not have enough SSNs and is quickly losing its military edge over the PRC in the Western Pacific due to superior PRC defense industrial production (and an overstretched US military that is losing munitions in Europe & MENA), why would we then give up some of our most prized and valuable assets? It doesn't make a lot of sense.
D) The timeline is all wrong. Public reporting indicates that AUKUS Pillar 1 would likely not *improve* the net allied balance of power in the Indo-Pacific until 2038 at the earliest, and perhaps not until the early 2040s. If the US is short SSNs and we transfer a SSN to Australia, that does nothing to improve the allied naval presence in the Pacific. It simply puts RAN personnel in a boat that would have had USN sailors. The net balance of power only improves if the RAN gets SSNs *on top of* what the USN needs for itself. Many public statements from current and recently serving high-level USGOV officials suggest that war could realistically erupt in the Taiwan Strait before 2030. Certainly before 2035. Some are concerned it could be as soon as 2027, the date that DCIA Burns of course mentioned as being a PLA goal for when they should be prepared to take the island. INDOPACOM chief Aquilino just told Congress that we're facing the most serious threat since WWII and that the Chinese likely will be ready by 2027. The bottom line is it could happen anytime. Including as soon as 2025. Or 2030. Or 2035. Or never. We don't know. But we need to be prepared. AUKUS Pillar 1, as currently devised, helps ANZUS prepare for a war against the PRC that occurs in 2040 or 2045. Given the very real risk of WWIII starting in the Pacific long before 2040, this is likely not a responsible and prudent strategic approach.
conclusion: we now only have bad options due to decades of defense & defense-industrial policy mistakes from the US, UK & Australia. We need to now try to figure out how to get ourselves out of this hole as quickly as possible and do everything we can to *deter* war in the Taiwan strait. Need to go back to the drawing board. It might be awkward but that does not matter. Need to leave pride at the door. If it means exploring a return to plan A i.e. French subs, so be it. If it means having the US potentially leasing or selling B21s to Australia, okay. Time to be creative and agile.
“We now have to face the real prospect, for much of the next decade and beyond, of not having any Australian submarine capability at all.” @ElbridgeColby #aukus https://t.co/8Ub4fZbAji
#Pillar1 By the end of the contract, workers will earn an average of 40%-50% more in wages than they do now. These increases will ensure workers can remain housed & have the opportunity to live in the communities where they work.
This week on the podcast, Tax Notes chief correspondent @StephanieSoong discusses the latest developments surrounding #AmountB under #Pillar1 of the OECD’s two-pillar corporate tax reform plan.
🎧 Listen wherever you get your podcasts: https://t.co/bH3GebFaIH
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