Indonesia Publishes Regulation for IIR, UTPR and Domestic Minimum Tax
On December 31, 2024 the Indonesian Ministry of Finance issued Minister of Finance Regulation Number 136 of 2024 (the ‘Regulation’) for the imposition of a global minimum, tax which will take effect from January 1, 2025.
GloBE Country Guide: Indonesia
Analysis of the domestic implementation of the Pillar Two Global Minimum Tax rules in Australia for accounting periods beginning on or after January 1, 2025. Updated for the Regulation issued by the Ministry of Finance on December 31, 2024.
A Review of the Australian Global Minimum Tax Rules
On December 23, 2024, Australia issued the Taxation (Multinational—Global and Domestic Minimum Tax) Rules 2024 (the ‘Rules’) to provide for the detailed application of the Pillar 2 GloBE rules in Australia.
IIRs and DMTTs that don’t yet Qualify Under the OECD January 2025 Update
On January 15, 2025, the OECD issued Administrative Guidance that includes a list of jurisdictions that have transitional qualified status for the purposes of the income inclusion rule and domestic minimum tax (including the QDMTT Safe Harbour).
A Review of Changes in the OECDs Updated January 2025 GloBE Information Return
On January 15, 2025, the OECD issued an updated GloBE Information Return (GIR) and GIR XML Schema. In this article we look at the changes to the previous GIR.
North Macedonia Enacts Global Minimum Tax Law From January 1, 2024
On January 3, 2025 the Law on Global Minimum Corporate Income Tax was published in the Official Gazette to implement the EU Global Minimum Tax Directive.
OECD Issues a List of Jurisdictions with Qualified Status, New Administrative Guidance and Updates to the GIR
On January 15, 2025, the OECD issued a list of jurisdictions that have transitional qualified status, further Administrative Guidance on the application of the Article 9.1 transitional rules, and an updated GloBE Information Return and GIR XML Schema, as well as the GIR MCAA.
GloBE Country Guide: North Macedonia
Analysis of the domestic implementation of the Pillar Two Global Minimum Tax rules in North Macedonia for accounting periods beginning on or after January 1, 2024. Updated for the legislation enacted on January 3, 2025
South Korea Issues 2025 Amendments to its Global Minimum Tax Law
On December 31, 2024, Law No. 20612, was published to amend the International Tax Adjustment Act for the 2025 Tax Reform provisions. This includes some amendments to the Global Minimum Tax provisions.
Italy Issues a Ministerial Decree to Implement Amended Pillar 2 Deferred Tax Transition Rules
On December 31, 2024, Ministerial Decree of December 27, 2024 was published in the Official Gazette. This implements Article 4.1-4.3 of the February 2023 OECD Administrative Guidance and some aspects of the June 2024 OECD Administrative Guidance on deferred taxation.
