EU Tax Chief Advocates Salvaging Work on OECD’s Pillar One

Every option should be exhausted to salvage an OECD project that would reallocate profits of large multinational companies to countries where their sales are made, a top EU official said.

Wopke Hoekstra, EU commissioner responsible for climate and taxation, said that before the bloc considers applying an EU-wide digital services tax, “by far the best way forward is to exhaust every single possibility to uphold as much of Pillar One and Pillar Two as possible.”

“I think diligently moving forward on that process, and then having everyone conclude that either it works and there is an opening, or that it ...