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On September 12, 2024, the UK issued further draft guidance on the Multinational Top-up Tax and Domestic Top-up Tax. The issued draft guidance now runs to over 300 pages.
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.
