Pillar 1: Difference between revisions
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''Banking - regulation.'' | 1. ''Banking - regulation.'' | ||
Pillar 1 is the dimension of banking regulation which establishes minimum capital requirements and a minimum leverage ratio. | (P1). | ||
Pillar 1 is the dimension of banking regulation which establishes minimum capital requirements based on market, credit and operational risks, and a minimum leverage ratio. | |||
Additional capital requirements may be imposed by bank supervisors under Pillar 2. | Additional capital requirements may be imposed by bank supervisors under Pillar 2. | ||
2. ''Tax - profit shifting - Global Minimum Tax - Organisation for Economic Co-operation and Development (OECD).'' | |||
Pillar 1 of the OECD's tax reforms proposed in 2021 would give taxing rights over the residual profits of large multinational enterprises to the jurisdictions where the customers and users are located. | |||
:<span style="color:#4B0082">'''''Treasurers may need to assist in compliance with Pillar 1'''''</span> | |||
:"Pillar 1 [is] a new nexus rule, which reallocates a business’s residual profits to the jurisdictions that generate value without necessarily having a physical presence. | |||
:If Pillar 1 is introduced, treasurers may need to assist in compliance, setting up bank accounts and arranging funds transfers in order to meet these liabilities." | |||
:''Graham Robinson, international tax and treasury partner PwC & Iain McDonald international tax and treasury director PwC - The Treasurer, Issue 4 2022 - December 2022, p40.'' | |||
== See also == | == See also == | ||
* [[Bank supervision]] | * [[Bank supervision]] | ||
* [[Base erosion and profit shifting]] (BEPS) | |||
* [[Basel III]] | * [[Basel III]] | ||
* [[Capital adequacy]] | * [[Capital adequacy]] | ||
* [[Capital Conservation Buffer]] | * [[Capital Conservation Buffer]] | ||
* [[Corporation Tax]] | |||
* [[Countercyclical buffer]] | * [[Countercyclical buffer]] | ||
* [[Leverage | * [[Credit risk]] | ||
* [[Effective tax rate]] (ETR) | |||
* [[European Union]] | |||
* [[Financial reporting]] | |||
* [[Global Anti-Base Erosion Rules]] (GloBE) | |||
* [[Gross domestic product]] (GDP) | |||
* [[Group]] | |||
* [[G7]] | |||
* [[Holdouts]] | |||
* [[Income Inclusion Rule]] (IIR) | |||
* [[Income Tax]] | |||
* [[Interest Rate Risk in the Banking Book]] | |||
* [[Internal Capital Adequacy Assessment Process]] | |||
* [[Leverage Ratio]] | |||
* [[Market risk]] | |||
* [[Multinational corporation/company]] | |||
* [[Nexus rule]] | |||
* [[Operational risk]] | |||
* [[Organisation for Economic Co-operation and Development]] (OECD) | |||
* [[Parent company]] | |||
* [[Pillar 2]] | * [[Pillar 2]] | ||
* [[Pillar 3]] | * [[Pillar 3]] | ||
* [[PRA buffer]] | |||
* [[Profit shifting]] | |||
* [[Prudential Regulation Authority]] (PRA) | |||
* [[Regime]] | |||
* [[Risk management]] | |||
* [[Sister company]] | |||
* [[Stress]] | |||
* [[Subject To Tax Rule]] (STTR) | |||
* [[Supervisory Review and Evaluation Process]] (SERP) | |||
* [[Tax ]] | |||
* [[Tax avoidance]] | |||
* [[Tax compliance]] | |||
* [[Tax evasion]] | |||
* [[Tax haven]] | |||
* [[Tax rate]] | |||
* [[Three Pillars of Capital]] | |||
* [[Top-up Tax]] | |||
* [[Transfer pricing]] | |||
* [[Undertaxed Payments Rule]] (UTPR) | |||
[[Category:Accounting,_tax_and_regulation]] | |||
Latest revision as of 21:29, 4 December 2022
1. Banking - regulation.
(P1).
Pillar 1 is the dimension of banking regulation which establishes minimum capital requirements based on market, credit and operational risks, and a minimum leverage ratio.
Additional capital requirements may be imposed by bank supervisors under Pillar 2.
2. Tax - profit shifting - Global Minimum Tax - Organisation for Economic Co-operation and Development (OECD).
Pillar 1 of the OECD's tax reforms proposed in 2021 would give taxing rights over the residual profits of large multinational enterprises to the jurisdictions where the customers and users are located.
- Treasurers may need to assist in compliance with Pillar 1
- "Pillar 1 [is] a new nexus rule, which reallocates a business’s residual profits to the jurisdictions that generate value without necessarily having a physical presence.
- If Pillar 1 is introduced, treasurers may need to assist in compliance, setting up bank accounts and arranging funds transfers in order to meet these liabilities."
- Graham Robinson, international tax and treasury partner PwC & Iain McDonald international tax and treasury director PwC - The Treasurer, Issue 4 2022 - December 2022, p40.
See also
- Bank supervision
- Base erosion and profit shifting (BEPS)
- Basel III
- Capital adequacy
- Capital Conservation Buffer
- Corporation Tax
- Countercyclical buffer
- Credit risk
- Effective tax rate (ETR)
- European Union
- Financial reporting
- Global Anti-Base Erosion Rules (GloBE)
- Gross domestic product (GDP)
- Group
- G7
- Holdouts
- Income Inclusion Rule (IIR)
- Income Tax
- Interest Rate Risk in the Banking Book
- Internal Capital Adequacy Assessment Process
- Leverage Ratio
- Market risk
- Multinational corporation/company
- Nexus rule
- Operational risk
- Organisation for Economic Co-operation and Development (OECD)
- Parent company
- Pillar 2
- Pillar 3
- PRA buffer
- Profit shifting
- Prudential Regulation Authority (PRA)
- Regime
- Risk management
- Sister company
- Stress
- Subject To Tax Rule (STTR)
- Supervisory Review and Evaluation Process (SERP)
- Tax
- Tax avoidance
- Tax compliance
- Tax evasion
- Tax haven
- Tax rate
- Three Pillars of Capital
- Top-up Tax
- Transfer pricing
- Undertaxed Payments Rule (UTPR)
