GloBE Country Guides: Summary
Analysis of the domestic implementation of the Pillar Two Global Minimum Tax rules.
Germany Publishes Draft Global Minimum Tax Legislation
On March 20, 2023, the German Federal Ministry of Finance published a consultation, including a draft law (the Minimum Taxation Directive Implementation Act) to implement the EU Global Minimum Tax Directive. The consultation is open for comments until April 21, 2023.
Deferred Tax Data Points For The Pillar 2 GloBE Rules
Many of the deferred tax data points are not stand-alone data sources but arise as a result of further calculations that are themselves based on underlying data-sources. There is therefore a ‘layering-up’ of data before the GloBE calculations can be effectively made.
Barbados 2023 Budget Confirms Global Minimum Tax Proposals Are In Progress
In the 2023 Budget on March 14, 2023, the Prime Minister of Barbados confirmed that the Barbados Revenue Authority has already started consultations with impacted entities with a view to implementation of the GloBE rules.
UK Confirms 2024 Global Minimum Tax & QDMTT in 2023 Spring Budget
In today’s 2023 Spring Budget, the UK government confirmed that it will include the Pillar Two Global Minimum Tax in the Spring Finance Bill 2023.
UK Confirms 2024 Global Minimum Tax & QDMTT in 2023 Spring Budget
In today’s 2023 Spring Budget, the UK government confirmed that it will include the Pillar Two Global Minimum Tax in the Spring Finance Bill 2023.
Vietnamese Government Issues Resolution To Speed-Up Global Minimum Tax
Last week, the Vietnamese Government released Resolution 31/NQ-CP of the February 2023, Regular Government Session to speed-up Global Minimum Tax implementation.
GloBE Country Guide: South Korea
Analysis of the domestic implementation of the Pillar Two Global Minimum Tax rules in South Korea from January 1, 2024.
Hungary’s Prime Minister Reiterates the Local Business Tax is a Covered Tax for GloBE Purposes
Hungary’s Prime Minister Viktor Orbán reiterated that Hungary has an Official letter from the EU agreeing to the Local Business Tax being a covered tax for the purposes of the Pillar Two Global Minimum Tax.
Spain Opens a Consultation on the Global Minimum Tax
On March 6, 2023, Spain’s Ministry of Finance and Public Function opened a public consultation on the transposition into Spanish law of the European Directive on the Global Minimum Tax
