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
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.
