Isle of Man Issues Updated Global Minimum Tax Order
On June 19, 2025, the updated version of the Global Minimum Tax (Pillar Two) Order 2024 was published.
Romania Issues a Draft Pillar 2 Form for Nominating a Filing Entity
On June 20, 2025, a draft Order was issued to nominate a single designated entity for QDMTT filing and payment purposes, if there are several constituent entities in Romania that are part of the same group.
Norway Opens a Consultation to Implement June 2024 and January 2025 OECD Administrative Guidance
On June 16, 2025, the Norwegian Ministry of Finance opened a consultation on a Draft Bill to amend the Norwegian Minimum Tax Act for the June 2024 and January 2025 OECD Administrative Guidance.
Iceland Issues a Draft Bill for IIR and Domestic Top-Up Tax From January 1, 2026
On June 5, 2025, Iceland issued a Draft Minimum Tax Bill for consultation. The Draft Bill includes an Income Inclusion Rule (IIR) and a domestic minimum tax from January 1, 2026.
GloBE Country Guide: Iceland
Analysis of the domestic implementation of the Pillar Two Global Minimum Tax rules in Iceland for accounting periods beginning after 31 December, 2025. Updated for the Draft Minimum Tax Bill opened for consultation June 5, 2025.
Hong Kong Enacts Law for IIR and Domestic Top-Up Tax From January 1, 2025
On June 6, 2025, the Inland Revenue (Amendment) (Minimum Tax for Multinational Enterprise Groups) Ordinance 2025 was published in the Official Gazette. The Bill includes an Income Inclusion Rule (IIR) and a domestic minimum tax from January 1, 2025.
Denmark Passes Law to Implement June 2024 and January 2025 OECD Administrative Guidance
On June 3, 2025, the Danish Parliament passed Bill 2024/1 LSV 194 A to amend the Danish Minimum Tax Act for the June 2024 and January 2025 OECD Administrative Guidance.
The Pillar Two GloBE Rules & Insurance Companies
The GloBE rules include a number of insurance specific adjustments. In this article we look at the nature of these provisions as well as the impact of the GloBE rules on insurance companies generally. Updated for OECD Administrative Guidance.
Investment Property & The GloBE Rules
Whilst the treatment of investment property for financial accounting purposes is important when determining the GloBE treatment, of even more importance are any differences between the financial accounting treatment and the domestic tax treatment.
Blended CFC Regimes and Avoiding Unrelievable CFC Taxes
Top-up taxes under a QDMTT are added to covered taxes of a CFC but only for the purposes of calculating the allocation of Blended CFC Taxes. The way the rules operate is aimed at minimising unrelievable CFC taxes under Blended CFC Regimes. Read more.
