Oman Issues a Law to Introduce an IIR and Domestic Top-Up Tax from 2025
On December 31, 2024, Oman issued Royal Decree No. 70/2024 to implement the Pillar 2 Income Inclusion Rule and a Domestic Minimum Tax from January 1, 2025..
Curacao Issues Pillar 2 Global Minimum Tax Ordinance
On December 20, 2024, Curacao’s Pillar 2 Global Minimum Tax Ordinance was approved by Parliament and it was subsequently published on December 27, 2024.
GloBE Country Guide: Curacao
On December 20, 2024, Curacao’s Global Minimum Tax Ordinance was approved by Parliament and it was subsequently published on December 27, 2024.
Singapore Issues Final Regulations for the Application of the Global Minimum Tax
On December 30, 2024, Singapore published the Multinational Enterprise (Minimum Tax) Regulations 2024 which provide for the detailed rules for the application of the multinational top-up tax and domestic top-up tax.
Brazil Enacts Domestic Minimum Tax Law and Issues Amended Regulations
On December 30, 2024, Brazil’s President enacted Law No. 15,079, of December 27, 2024 that repeats (with minor amendments) Provisional Measure No. 1,262, of October 3, 2024, to introduce a Domestic Minimum Tax (DMT) from January 1, 2025.
Kuwait Enacts its Domestic Minimum Top-Up Tax
On December 30, 2024, Kuwait published Decree-Law 157 of 2024 for the introduction of a Domestic Minimum Top-Up Tax (DMTT) for in-scope MNE groups from January 1, 2025.
Spain Enacts its Global Minimum Tax Law
On December 21, 2024, Spain published Law 7/2024 in its Official Gazette to transpose the EU Minimum Tax Directive into domestic law.
South Africa Gazettes its Global Minimum Tax Act
On December 24, 2024, South Africa published the Global Minimum Tax Act in its Official Gazette. This applies an IIR and QDMTT from January 1, 2024.
Australia Issues Rules for the Detailed Application of the Global Minimum Tax
On December 23, 2024, Australia issued the Taxation (Multinational—Global and Domestic Minimum Tax) Rules 2024 to provide for the detailed application of the Pillar 2 GloBE rules in Australia.
Luxembourg Parliament Approves Global Minimum Tax Amendment Law for OECD Administrative Guidance
On December 19, 2024, Luxembourg’s Parliament approved a law to amend its Global Minimum Tax Law to implement aspects of the OECD Administrative Guidance.
