Hungary Issues GloBE Registration Form and Domestic Filing Entity Form
On November 15, the Hungarian Tax Authority issued draft forms for the registration notification under Article 44(1) of the Minimum Tax Act, and the appointment of a domestic filing entity under Article 3(47).
Singapore Global Minimum Tax Law has been Published in the Official Gazette
On November 27, 2024, the Multinational Enterprise (Minimum Tax) Act 2024 was published in the Singapore Official Gazette. This implements the Pillar 2 GloBE rules in Singapore for fiscal years beginning on or after January 1, 2025.
GMT Amendments in the Hungarian Autumn Tax Package Passed to President for Signature
The Hungarian Autumn Tax Package has been passed by Parliament and was sent to the President for signature on November 27, 2024. This includes amendments to the GMT law, most notably registration and the QDMTT return/payment obligation.
Australian Senate Passes GMT Bills
On November 26, 2024, the bills to implement the Pillar 2 GMT in Australia has been passed by the Senate. They now await Royal Assent for enactment.
German Annual Tax Act Includes GMT Amendments
On November 22, 2024, the Annual Tax Act was passed by the Upper House of Parliament. This includes two technical changes relating to the Global Minimum Tax
Isle of Man Parliament Passes the Global Minimum Tax (Pillar Two) Order 2024
On November 21, 2024, the Isle of Man Parliament passed the Global Minimum Tax (Pillar Two) Order 2024
Swiss Federal Council Issues Amended Minimum Tax Ordinance for the IIR
On November 20, 2024, the Swiss Federal Council issued the amended Minimum Tax Ordinance to provide for the IIR from January 1, 2025.
Cypriot GMT Law Tabled in Parliament Includes Detailed QDMTT Provisions
On October 18, 2024, the Cypriot draft law to implement the EU Minimum Tax Directive was tabled in Parliament. The full version has recently been released.
Poland Enacts its Global Minimum Tax Law
On November 19, 2024, the Law implementing the Global Minimum Tax was published in the Polish Official Gazette. See our updated GloBE Country Guide.
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.
