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.
In particular, for accounting periods beginning on or after December 31, 2023, the UK will apply a multinational top-up tax, and a qualified domestic minimum top-up tax.
UPDATE: The Spring Finance Bill 2023 (Finance (No. 2) Bill) was subsequently published on March 23, 2023, along with its Explanatory Notes (see our analysis at: Review of the UK Global Minimum Tax in Yesterday’s 2023 Spring Finance Bill).
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