Pillar Two – Domestic Implementation

On September 19, 2023, Turkey gazetted the Pillar 2 amendments to IAS 12, as previously announced by the IASB.

Analysis of the domestic implementation of the Pillar Two Global Minimum Tax rules in Italy for accounting periods beginning on or after 31 December, 2023.

On September 11, 2023, the Italian Ministry of Finance issued a draft law for the implementation of the EU Global Minimum Tax Directive. Read our detailed review.

Analysis of the domestic implementation of the Pillar Two Global Minimum Tax rules in Germany from 2024. Updated for the August 16, 2023 Draft Law.

Taiwan’s Ministry of Finance confirmed today there is no set schedule for the introduction of the Pillar 2 GloBE rules in Taiwan. Taiwan’s Ministry of Finance has previously stated it will prepare draft legislation for the government to increase Taiwan’s domestic minimum tax rate from 12% to 15%.
However, this creates a number of issues in terms of its interaction with the Pillar Two global minimum tax.

Our Pillar 2 Jurisdictional Elections Matrix has been updated for the latest draft laws issued/amended, including the recent Czech update.

Analysis of the domestic implementation of the Pillar Two Global Minimum Tax rules in the Czech Republic for accounting periods beginning on or after 31 December, 2023. Updated for the August 2023 draft top-up tax act.

Analysis of the domestic implementation of the Pillar Two Global Minimum Tax rules in Finland for accounting periods beginning on or after 31 December, 2023.

An article by article analysis that sources all of the articles of the Japanese Pillar Two Law, Cabinet Order and Ministerial Ordinance back to the OECD Model Rules, including notes where there are differences from the provisions in the Model Rules.

Japan has issued three pieces of legislation to implement the Pillar Two GloBE Rules. In this article we look at the final piece (to date) in Japan’s GloBE law – the Ministerial Ordinance.