Trending Now

Turkey Gazettes Pillar 2 IASB Amendments

Differences Between Domestic CFC Regimes and the GloBE Rules That Allow Cross-Jurisdictional Blending

Pillar Two: Trusts & Foundations

GloBE Country Guide: Italy

Japan Submits Draft Pillar Two Law to Parliament

On February 3 and 6, 2023, the Ministry of Finance published the “Bill for the Partial Revision of the Income Tax Act”. This includes the proposed implementation of the Pillar Two GloBE rules from April 1, 2024. The bill is subject to parliamentary approval. 
 
[UPDATE: Japan’s Bill for the Partial Revision of the Income Tax Act was approved enacted by the Japanese Parliament on March 28, 2023. See: Japan’s Global Minimum Tax Law Is Enacted.]

The following materials were released:

 
The Bill includes a new Chapter 2 in the Corporate Tax Act to provide for the global minimum tax. This includes:
 
Section 1 General Provisions (Article 82-Article 82-3)
Section 2 Tax Base (Article 82-4)
Section 3 Tax Amount Calculation (Article 82-5) 
Section 4 Declaration and Payment, etc. (Article 82-6-Article 82-10)

Sign into your account to access this analysis

Not a Subscriber?

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

Get Started
Already a Subscriber?

Lee Hadnum

Lee Hadnum

Lee is a qualified Chartered Accountant and Chartered Tax Adviser. A former Senior Tax Analyst at Bloomberg Tax, Lee began his career in Ernst & Young's Entrepreneurial Services department and has 20 years of international tax planning experience. Lee's books have been recommended by The Times, The Guardian and The Telegraph.

This website is not affiliated with or related to the OECD. We provide independent insights and analysis on the OECD Two-Pillar Solution

image showing 'OECDpillars.com logo'
s2Member®

© 2023 OECDPillars 

All Rights Reserved