On December 17, 2024, the Dutch Parliament approved a draft law to amend the GMT Law. This includes a number of amendments to implement further aspects of the February 2023 and July 2023 OECD Administrative Guidance and some aspects of the December 2023 OECD Administrative Guidance.
On December 17, 2024, the Chamber of Deputies approved Bill 3817/24 that repeats Provisional Measure No. 1,262/2024 and implements the DMT. It will be sent to the Senate.
In December 2024, the Malaysian Inland Revenue Board (MIRB) issued guidance on the interpretation and administration of the Pillar Two global minimum tax applicable from January 1, 2025.
On 12 December 2024, the Cyprus House of Representatives voted to approve local legislation to implement Pillar 2. The Law will come into effect once it is published in the official Government Gazette.
On December 15, 2024, Bahrain issued Decision no. (172) of 2024 to provide for the Executive Regulations for the DMTT law. This provides the detailed rules for the operation of the DMTT.
On December 10, 2024, the Australian GloBE legislation received Royal Assent.
On December 10, 2024, Gibraltar issued the Global Minimum Tax Bill 2024 to transpose the OECD Model Rules (and accompanying guidance) into domestic law.
Analysis of the domestic implementation of the Pillar Two Global Minimum Tax rules in Gibraltar for accounting periods beginning on or after December 31, 2023 (for the domestic top up tax) and December 31, 2024 (for the IIR). Updated for the draft legislation issued on December 10, 2024.
On December 5, 2024, Decree No. 2024-1126 was published in the French Official Gazette. This provides additional details on the reporting requirements for Pillar 2 purposes.
On December 6, 2024 Germany’s Ministry of Finance issued a Second Discussion Draft to implement aspects of the Fourth Set of OECD Administrative Guidance.
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