Singapore Introduces its Draft GloBE Law to Parliament
On September 9, 2024, Singapore introduced its Multinational Enterprise (Minimum Tax) Bill, 2024 into Parliament. Read our updated analysis.
Czech Republic Amends Draft Law Amending its GloBE Law
On August 28, 2024, the Czech Republic issued amendments to draft law no. 595/24 (originally issued in April 2024) to amend Act No. 416/2023 implementing the EU Minimum Tax Directive in the Czech Republic.
GloBE Country Guide: Bahrain
Analysis of the domestic implementation of the Pillar Two Global Minimum Tax rules in Bahrain for accounting periods beginning on or after January 1, 2025. Updated for Decree-Law No. (11) of 2024 issued on September 1, 2024.
Switzerland Applies IIR From January 1, 2025
On September 4, 2024, the Swiss Federal Council announced that the Income Inclusion Rule (IIR) will apply from January 1, 2025.
The Substance-Based Income Exclusion & Low Profit Margin Companies
The substance-based income exclusion favours capital intensive and certain low profit margin companies. These companies stand to benefit the most.
German MoF Issues Draft Law for AG3 Provisions Including Transitional CbCR and Blended CFC Rules
On August 20, 2024, the German Ministry of Finance issued a Discussion Draft of a Draft Law to implement most aspects of the Third Set of OECD Administrative Guidance.
GloBE Country Guide: The Bahamas
Analysis of the domestic implementation of the Pillar Two Global Minimum Tax rules in The Bahamas for accounting periods beginning on or after January 1, 2025. Updated for the draft legislation issued by The Bahamas Government on August 12, 2024.
GloBE Country Guide: Jersey
Analysis of the domestic implementation of the Pillar Two Global Minimum Tax rules in Jersey for accounting periods beginning on or after January 1, 2025. Updated for the draft legislation issued on August 14, 2024.
Austria Updates Minimum Tax Act for Aspects of OECD Administrative Guidance
Updated Pillar 2 GloBE guide for Austria following OECD Administrative Guidance, including currency provisions and extending the Transitional CbCR Safe Harbour to cases where an MNE is not required to prepare CbC
Finland Issues Draft Pillar 2 Amendment Law to Reflect OECD Administrative Guidance
On August 12, 2024, the Finnish government issued draft legislation to amend the Minimum Tax Act to reflect numerous aspects of the OECD Administrative Guidance. The draft law is subject to a consultation until September 6, 2024, and once enacted will apply from January 1, 2024.
