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On September 12, 2024, the UK issued further draft guidance on the Multinational Top-up Tax and Domestic Top-up Tax. The issued draft guidance now runs to over 300 pages.
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.
OECD Administrative Guidance Matrix: Updated to September 9, 2024
Updates to our ‘OECD Administrative Guidance: Domestic Implementation Matrix’ to reflect the latest Pillar 2 laws for the Bahamas, Jersey and Germany
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.
Investment Property & The GloBE Rules
Whilst the treatment of investment property for financial accounting purposes is important when determining the GloBE treatment, of even more importance are any differences between the financial accounting treatment and the domestic tax treatment.
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.
