GloBE Country Guide: Japan – Update
Analysis of the domestic implementation of the Pillar Two Global Minimum Tax rules in Japan from April 1, 2024, as updated by the detailed implementation guidance issued by the Ministry of Finance on October 20, 2023,
Lithuania Issues Draft Pillar Two Law & Confirms Postponement
On October 27, 2023, Lithuania’s Ministry of Finance issued a draft law to implement the EU Global Minimum Tax Directive (along with a Draft Law on the Amendment of Article 589 of the Code of Administrative Offenses).
EU Official Suggests 5 States to Delay Pillar Two
On October 27, 2023, it was suggested by an EU official that Estonia, Latvia, Lithuania, Malta, and Slovakia are to delay the implementation of the IIR and UTPR under the Pillar Two rules.
Pillar Two Navigator Update: Intra-Group Asset Transfers
Updated analysis of the treatment of intra-group asset transfers under the GloBE rules, including the step-up denial and examples of the impact of claiming a deferred tax asset under the OECD Administrative Guidance.
Kuwait Considers Pillar Two Application
It was reported on October 23, 2023, that Kuwait is considering a comprehensive overhaul of its tax laws from January 1, 2025 to apply a 15 percent corporate tax on the profits of all legal persons, including major international companies.
GloBE Country Guide: Hungary
Analysis of the domestic implementation of the Pillar Two Global Minimum Tax rules in Hungary from 2024.
A Review of Ireland’s Draft Pillar Two Law
On October 19, 2023, the Irish Ministry of Finance released the Finance (No. 2) Bill 2023 (‘draft law’). to implement the Pillar Two GloBE rules/EU Minimum Tax Directive.
A Review of Hungary’s Draft Pillar Two Law
On October 17, 2023, the Hungarian Ministry of Finance issued a draft law to implement the Pillar Two GloBE rules/EU Minimum Tax Directive.
The Netherlands Issues GloBE Amendments for OECD Administrative Guidance
On 13 October 2023, the Dutch State-Secretary of Finance issued a Bill to amend the Dutch Draft Minimum Tax Bill.
Malaysia’s 2024 Budget Proposes GloBE Implementation from 2025
In the 2024 Budget Speech today, the Malaysian Prime Minister confirmed that the Pillar Two GloBE rules are to apply from 2025.
