First Half of OECD Tax Deal is ‘Dead,’ IDA Ireland Chair Says

The OECD’s framework for overhauling the way multinationals are taxed is “dead,” the chair of Ireland’s state-sponsored foreign-direct investment body said Friday.

The framework, known as Pillar One of a two-part OECD agreement, seeks to change the way a multinational firms’ assets are taxed, reallocating taxes on some corporate profits from where a product was manufactured to where its users are based or the product is consumed.

“For all intents and purposes, Pillar One is dead,” Feargal O’Rourke, chair of IDA Ireland, said at the Irish Tax Institute’s Global Tax Policy Conference. “I’m not sure you’ll find many people ...