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We round-up the progress on implementation in a selection of leading economies worldwide. We also look at the impact on businesses, likely go live timings and what could potentially delay or derail the process.

We explore the political reaction to the rules, current views on implementation timelines, some complexities we see in applying these rules practically, and what businesses can do now to get ready for the introduction of Pillar 2.

The world of indirect tax regime is fast changing with countries adopting new and more sophisticated measures and increasing use of technology to track business transactions.

Law 5/2022 of 9 March, which amends Law 27/2014, of 27 November, on Corporate Income Tax, and the revised text of the Law on Non-Resident Income Tax, approved by Royal Legislative Decree 5/2004, of 5 March, in relation to hybrid mismatches (hereinafter, the “Law 5/2022”), was published recently in the Spanish Official State Gazette (BOE).

Our expert Vicente Gomar has been part of the procedure described below, which has resulted in one of the most important rulings of recent times, the Supreme Court (SC) 484/2022 of February 9.

VAT and GST are growing in complexity and application, as the traditional goods and services model is replaced with digital content; virtual consumption and seamless international trade flows.

On January 27, 2022, the Court of Justice of the European Union (CJEU) has pronounced the "death" sentence of the 720 model.

In continuity with the urgent measures approved by the Spanish Government to mitigate the crisis generated by the Covid-19, on May 5, 2020, Royal Decree Law 17/2020 of May 5 was published in the Official State Gazette, approving support measures for the cultural industry and tax measures to deal with the economic and social impact of the Covid-2019, which entered into force on May 7, 2020

In continuity with the urgent measures approved by the Spanish Government to mitigate the crisis generated by the Covid-19, on May 5, 2020, Royal Decree Law 17/2020 of May 5 was published in the Official State Gazette, approving support measures for the cultural industry and tax measures to deal with the economic and social impact of the Covid-2019, which entered into force on May 7, 2020

In continuity with the urgent measures approved by the Spanish Government to mitigate the crisis generated by the Covid-19, on May 5, 2020, Royal Decree Law 17/2020 of May 5 was published in the Official State Gazette, approving support measures for the cultural industry and tax measures to deal with the economic and social impact of the Covid-2019, which entered into force on May 7, 2020

In continuity with the urgent measures approved by the Spanish Government to mitigate the crisis generated by the Covid-19, on May 5, 2020, Royal Decree Law 17/2020 of May 5 was published in the Official State Gazette, approving support measures for the cultural industry and tax measures to deal with the economic and social impact of the Covid-2019, which entered into force on May 7, 2020

In continuity with the urgent measures approved by the Spanish Government to mitigate the crisis generated by the Covid-19, on May 5, 2020, Royal Decree Law 17/2020 of May 5 was published in the Official State Gazette, approving support measures for the cultural industry and tax measures to deal with the economic and social impact of the Covid-2019, which entered into force on May 7, 2020