This report considers the implications of international tax developments over the last 10 years, including the adoption in October 2021 of the Two-Pillar Solution to Address the Tax Challenges Arising from the Digitalisation of the Economy for national tax administrations. It provides recommendations to strengthen co-operation at the national tax administration level in the context of increasingly coordinated international rules. The report considers the corporate tax landscape and the need for a simple, collaborative, and digital administration of common rules. Topics beyond corporate tax are addressed, such as how the international information exchange architecture could evolve, with a view to improving timeliness through real-time data availability and incorporating compliance by design. Finally, the report notes the implications of this changing tax landscape for developing countries and how the G7 could lead advanced economies in assisting the implementation by developing countries of the Two-Pillar Solution. This report was prepared by the OECD to inform the discussions at the May 2022 meeting of G7 Finance Ministers and Central Bank Governors, at the request of the G7 German Presidency.