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Corporate Services Scrutiny Panel: OECD Pillar 2 Implementation Sub-Panel
Records of Meetings 2024
The following records of meetings have been approved by the Panel. Signed
Chair
Deputy Jonathan Renouf
OECD Pillar 2 Implementation Review
Record of Meeting
Date: 20th June 2024
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Present |
Deputy Jonathan Renouf , Chair Deputy Montfort Tadier , Vice-Chair Deputy Hilary Jeune Deputy Max Andrews |
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In attendance |
Monique Magalhaes, Committee and Panel Officer Alex Cameron, Research and Project Officer |
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Agenda matter |
Action |
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1. Administrative Matters The Panel appointed Deputy Jonathan Renouf as Chair and Deputy Montfort Tadier as Vice-Chair of the Sub-Panel, which was established to review the proposals for the Organisation for Economic Co-Operation and Development (OECD) Pillar 2 Implementation. |
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2. Declaration and Conflicts of Interest For the purpose of awareness, Deputy Hilary Jeune declared previous involvement with Oxfam International with regard to tax justice. However, this was not deemed to be a conflict by the Panel. |
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3. Legislative Timeline The Panel noted the anticipated legislative timeline as provided by Government. It was anticipated that the Proposition would be lodged in quarter three for debate in the States Assembly in quarter four. The Panel noted the tight timeframe to undertake its work, considering that the proposals were anticipated to be substantive and technical in nature. |
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4. Scrutiny Approach The Panel discussed how to approach scrutiny of the proposals. The Panel noted and discussed a briefing paper prepared ahead of its meeting to provide a consolidated summary of the workstream to date and to assist the Panel in agreeing its approach for the review. The Panel noted that briefings on the progress of the workstream had previously been provided jointly to the Corporate Services Panel (CSP) and Economic and International Affairs Panel (EIAP) and that file notes from those briefings had been shared with the Panel. |
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The Panel agreed, as the Proposition was not yet lodged and it had not yet received sight of any draft proposals, that it would request a technical briefing on the workstream and further detail on when it would receive sight of the draft proposals. The Panel requested that a briefing be arranged for 11th July 2024, if possible. The Panel agreed to begin scoping the review and drafting its Terms of Reference once the Proposition was lodged and further clarity on the proposals was received. In the absence of any draft proposals, the Panel discussed particular elements that it would consider as part of its review based on the information that it had received to date. The Panel discussed whether an expert advisor should be engaged for the review. The Panel agreed, due to the technical nature of the proposals, that appointing an expert advisor would be beneficial. In the first instance, the Panel requested that a list of potential candidates based on preliminary research be provided for it to consider prior to seeking expressions of interest once the Proposition was lodged. The Panel requested that candidates with taxation expertise based both on and off-Island should be considered, as well as candidates with academic backgrounds and those with connections to the OECD or with knowledge thereof. |
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OECD Pillar 2 Implementation Review Record of Meeting
Date: 11th July 2024
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Present |
Deputy Jonathan Renouf , Chair Deputy Montfort Tadier , Vice Chair Deputy Hilary Jeune Deputy Max Andrews Connétable David Johnson |
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In attendance |
Cora O’Brien, Deputy Comptroller of Revenue, Treasury and Exchequer Tom Le Feuvre, Director for Global Markets and International Agreements, Office of the Chief Executive Jeramiah Coder, Director for International Tax Policy, Treasury and Exchequer Jason Daniel, Tax Specialist, Treasury and Exchequer Monique Magalhaes, Committee and Panel Officer Gwyn Garfield-Bennett, Communications Officer |
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Agenda matter |
Action |
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1. Briefing – Organisation for Economic Cooperation and Development (OECD) Pillar 2 Regime The Corporate Services Scrutiny Sub-Panel received an Officer briefing to provide an update on the OECD Pillar 2 workstream and results of the targeted industry consultation. The meeting was held in private in accordance with the Freedom of Information (Jersey) Law 2011 (as amended) under Qualified Exemption Article 35. The Sub-Panel requested that a further briefing on the draft legislation be scheduled for the following week. The Panel noted that the draft legislation was received in confidence the previous day. |
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