On October 4, 2022 the Australian Government opened a public consultation on its commitment/intention to implement the Two-Pillar solution. In this respect it seeks input on aspects of the new two-pillar global agreement on corporate taxation. In the consultation document the Australian Government asks for feedback and input on both Pillar One and Pillar 2. The closing date for submissions is November 1, 2022.

In the extensive consultation document, the Australian Government describes the working and purposes of Pillars One and Two. In relation thereto the Australian Treasury invites the public to comment on aspects of the new two-pillar global agreement on corporate taxation or respond to the 40 questions that are posed throughout the consultation paper.

The submissions will help inform consideration of domestic implementation issues, such as interactions with Australia’s existing corporate tax system, ways to minimise compliance costs, and the implementation of a Domestic Minimum Tax. According to the Australian Treasury feedback will also help them with various ongoing negotiations on design elements.

You can find the consultation document here on the website of the Australian Treasury.


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