Vietnam Issues a Draft Decree for Detailed GloBE Provisions
On November 12, 2024, the Vietnamese Ministry of Finance issued a Draft Decree for the Implementation of the GloBE Rules. This is subject to a consultation until December 6, 2024 and it includes provisions for the detailed operation of the GloBE rules in Vietnam.
Netherlands GloBE Country Guide Updated for Latest Amended Draft Law
The September 17, 2024 draft law to amend the Minimum Tax Act was amended on October 3, 2024. Read our updated GloBE Guide.
UK GloBE Guide Updated for Finance Bill 2024-2025
On November 7, 2024, the UK issued Finance Bill 2024-2025 which includes a number of amendments to provide for the December 2023 and June 2024 OECD Administrative Guidance. Read our updated GloBE Guide.
South Africa Country Guide Updated for Latest Draft Laws
On October 30, 2024 the Global Minimum Tax Bill and the Global Minimum Tax Administration Bill were sent to the National Assembly. Read our updated Country Guide.
Review of the Pillar 2 Provisions in the UK Finance Bill 2024-2025
On November 7, 2024, the Finance Bill 2024-2025 was introduced to Parliament. This includes provisions to enact the UTPR (and associated rules such as the Transitional UTPR Safe Harbour and Initial Phase of International Activity Exemption), and other Pillar 2 amendments.
Luxembourg GloBE Guide Updated for October 2024 Amendments to Draft Law
On October 31, 2024 additional amendments were made to the 2024 draft amendment law to incorporate aspects of the OECD June 2024 Administrative Guidance.
Hungary Includes GloBE Amendments in its 2024 Autumn Tax Proposal
On October 29, 2024, Hungary issued its Autumn Tax Package proposal. This included minor changes to the Pillar Two law. Most notably it expanded on the registration requirements.
Pillar Two: STTR Implementation
We keep track of the domestic implementation of the Subject-to-Tax Rule (STTR) internationally including links to relevant effected double tax treaties.
Hong Kong Issues Outcome of the Consultation on the Introduction of the GloBE Rules
On October 30, 2024, the Hong Kong government released the outcome statement following the previous consultation into the introduction of the GloBE rules.
Uk GloBE Country Guide Updated for 2024 Budget Provisions
The UK 2024 Budget on October 30, 2024 confirmed a number of proposed amendments to the application of the Pillar Two GloBE rules including a provision for a foreign QDMTT to qualify for the QDMTT Safe Harbour if it is reasonable to conclude that it is likely to fall within the OECD guidance. Read our updated UK GloBE Guide for more information.
