Thai Cabinet Approves Global Minimum Tax Proposal
Yesterday, the Thai Cabinet approved the proposal to implement a Global Minimum Tax (see item 48 of the following Cabinet Resolution:
OECD Recommends Global Minimum Tax is Included in Brazil’s Tax Reform
Yesterday, the Director of the OECD’s Centre for Tax Policy and Administration, stated to Brazil’s Finance Minister that the implementation of the 15% global minimum tax on multinational companies should be part of tax reform in Brazil.
The BVI is Taking a Different Approach to the Bahamas for Pillar 2
Whilst the British Virgin Islands (BVI) and the Bahamas do not levy corporate income tax, the Director of the BVI International Tax Authority, has confirmed that the BVI is to take a different approach to the Bahamas in relation to the Pillar 2 Global Minimum Tax.
Belgium Finance Minister Announces 2024 Global Minimum Tax
On March 2, 2023, the Belgian Minister of Finance announced the first phase of a broad tax reform that will include the Pillar Two global minimum tax.
Chinese Developments in Global Minimum Tax Implementation
Whilst China was a signatory to the October 2021 Statement on a Two-Pillar Solution, domestic implementation has been slow. On February 17, 2023, a consultation issued by the Chinese Ministry of Finance ended.
Chairman of the Vietnamese National Assembly Confirms Pillar 2 Implementation Is Progressing
Yesterday, the Chairman of the Vietnamese National Assembly confirmed that the Vietnamese government is progressing in its proposals for the implementation of the Pillar Two Global Minimum Tax
The Bahamas & Cayman Islands Approach To The Global Minimum Tax
The Attorney General of the Bahamas, has stated that the government is planning to introduce a Pillar Two Global Minimum Tax.
Today’s Malaysian 2023 Revised Budget Stands by 2024 Global Minimum Tax
Malaysia issued its 2023 revised Budget today (4pm Malay time). The original October 2023 Budget included a commitment to introduce the Pillar Two GloBE Rules and a Qualified Domestic Minimum Top-Up Tax. This was reaffirmed in the revised Budget.
South Africa Confirms Global Minimum Tax In 2024 Taxation Laws Amendment Bill
In yesterdays 2023 Budget, the South African Treasury confirmed that during the 2023 legislative cycle, the government will publish a draft position on the implementation of the Pillar Two global minimum tax for public comment and draft legislation will be prepared for inclusion in the 2024 Taxation Laws Amendment Bill.
Review of the Draft Swedish Global Minimum Tax Law
On February 7, 2023, the Special Investigator submitted the Interim Report on the proposal for the implementation of the EU Global Minimum Tax Directive to the government. Read our analysis.
