Pascal Saint-Amans
Director, Centre for Tax Policy and Administration, OECD
Pascal oversees global tax policy initiatives and has played a key role in the OECD's efforts for a coordinated approach to tax challenges posed by digitalization.
Credit & Personal Finance
Is the Global Push for a 15% Minimum Corporate Tax Actually Working — or Did Multinationals Adapt Faster Than the Regulation Expected?The global 15% corporate minimum tax is working—but not in the simple way its architects originally imagined. Pillar Two has moved from an international agreement into actual tax administration, and early evidence suggests that multinational enterprises are responding by changing effective tax rates and, in some cases, their behavior. But that does not mean governments have eliminated tax competition or profit shifting. The rules contain carve-outs, safe harbors, complex implementation requirements, and significant differences between jurisdictions. The more accurate question is therefore not “Did the 15% minimum tax stop multinational tax avoidance?” but “How much tax competition did it actually eliminate—and who is collecting the additional revenue?” The answer is emerging, and the first post-implementation evidence is considerably more interesting than either the optimistic or the skeptical narrative.