First Domestic Pillar Two Global Minimum Tax Law Enacted

On December 31, 2022, South Korea enacted the first domestic law to give effect to the Pillar Two GloBE rules from January 1, 2024. 

We’ve had draft laws published for the UK, Switzerland, South Korea and the Netherlands as well as the adoption of the EU Global Minimum Tax Directive, but this is the first domestic tax law enacted to give effect to the global minimum tax. 

This is likely to prompt other jurisdictions (eg Vietnam, given the scale of South Korean investment into Vietnam) to introduce their own legislation for the GloBE Rules. 

Sign into your account to access this analysis

Not a Subscriber?

If you haven’t got a subscription you can join up below. 

Already a Subscriber?