"Pillar One" refers to a framework developed by the OECD to address the tax challenges arising from the digitalization of the economy. It aims to ensure that multinational enterprises (MNEs) pay taxes where they have significant consumer interactions, regardless of their physical presence in that jurisdiction. The framework proposes a reallocation of taxing rights over a portion of the profits of large MNEs to countries where they operate. This is intended to create a fairer tax system and reduce tax avoidance, benefiting countries that may not have previously taxed these profits effectively.