IAFI has responded to a consultation by the OECD on its inclusive framework. IAFI focused its responses on the OECD’s request for suggestions for simplified income or tax calculations and for cases where groups should not be required to collect all the data points.

IAFI agreed that incorporating the simplified compliance procedures associated with safe harbors in the development of the Globe Information Return is an efficient and effective manner of administering this new tax regime.

IAFI also agreed that incorporating the safe harbors is consistent with the OECD’s view that requiring the disclosure of significant amounts of financial and tax information, especially in respect of those jurisdictions that do not give rise to a GloBE tax liability, may increase compliance costs.

IAFI also outlined a range of suggested refinements to the framework.