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
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
