GloBE Country Guide: Brazil
Analysis of the domestic implementation of the Pillar Two Global Minimum Tax rules in Brazil for accounting periods beginning on or after January 1, 2025. Updated for Provisional Measure No. 1,262, and Normative Instruction No. 2,228 of October 3, 2024.
Brazil Issues Legislation to Implement a QDMTT From January 1, 2025
Yesterday, Brazil issued Provisional Measure No. 1,262, of October 3, 2024 and a supporting Regulation to introduce a Domestic Minimum Tax (intended to be a QDMTT) from January 1, 2025. It now needs to be ratified by Congress.
Lithuania GloBE Guide – Updated for the Order on Information Notices
Our Lithuania GloBE Guide has been updated for the Order on Information Notices in relation to Pillar Two.
Bulgaria Issues a Draft Law to Provide for OECD Administrative Guidance, Including the UTPR Safe Harbour
On September 18, 2024, the Bulgarian Ministry of Finance published draft legislation for public consultation to amend the Bulgarian minimum taxation rules, including the introduction of the Transitional UTPR Safe Harbour.
Puerto Rico Issues a Consultation on a QDMTT
On September 24, 2024, the Puerto Rico Treasury Department launched a public consultation on the implementation of the GloBE rules, including a QDMTT.
Slovakia’s Government Approves the Pillar 2 Amendment Law
On September 11, 2024, the government of Slovakia approved a draft bill on amendments to the law to reflect various aspects of the OECD Administrative Guidance. See our updated GloBE Guide.
Netherlands Issues Draft GMT Amendment Law
On September 17, 2024, a draft law to amend the Minimum Tax Act was published. This includes a number of amendments to implement the OECD Administrative Guidance. Read our updated GloBE Country Guide.
9 Jurisdictions Sign the Multilateral Instrument implementing the STTR
On September 19, 2024, the OECD held the signing ceremony for the Multilateral Convention to Facilitate the Implementation of the Pillar Two Subject to Tax Rule. 9 jurisdictions have signed with a further 10 stating an intention to sign.
Norway GloBE Guide Updated for Amended Regulations
On April 3, 2024, Regulations for the implementation of the GloBE law were issued which implement a number of aspects of the First, Second and Third Set of OECD Administrative Guidance. The Regulations were amended in August 2024.
UK Issues Further Draft Pillar 2 Guidance
On September 12, 2024, the UK issued further draft guidance on the Multinational Top-up Tax and Domestic Top-up Tax. The issued draft guidance now runs to over 300 pages.
