Joint EACH/ECSDA/FESE Letter To OECD On Its Consultation On Pillar 1 Blueprint Date
15/12/2020
The European Association of CCP Clearing Houses (EACH), the European Central Securities Depositories Association (ECSDA) and the Federation of European Securities Exchanges (FESE) co-signed a letter in response to the OECD consultation on Pillar 1 Blueprint. The purpose of the letter is to provide supplementary information relevant to the position set out in our previous correspondence with the OECD on the 22 October 2019 and restate why we believe that Trading Venues (TVs), Central Counter Parties (CCPs) and Central Securities Depositories (CSDs) should be specifically excluded from the payment of a taxing right for market jurisdictions over a share of residual profit calculated a MNE (multinational enterprise) group (or segment) level (“Amount A”).