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The IMG or GloBE and its implications
Since 2017, the G20 and OECD have collaborated on the IMG or GloBE, aimed at addressing tax base erosion and profit shifting. Pillar One focuses on distributing multinational company profits to where their clientele is located, while Pillar Two proposes a global minimum tax of 15%. In Panama, discussions are underway on implementing the IMG, with efforts to ensure legal security for local and foreign capital companies.
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