South Korea updates pillar 2 GMT laws to incorporate OECD guidance
01 January, 2024
On 31 December 2023, South Korea issued Law No. 19928 (Partial Amendment to the International Tax Adjustment Act). The amendments pertain to the Pillar 2 global minimum tax rules South Korea introduced as part of tax reforms for 2023. The amendments include the most recent OECD administrative guidance regarding the implementation of the Pillar 2 rules. South Korea is expected to enforce the Pillar 2 global minimum tax rules starting 1 January 2024.
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South Korea has published Law No. 20612 in the Official Gazette on 31 December 2024, amending the International Tax Adjustment Act, which includes several adjustments to the Global Minimum Tax provisions. The law introduces measures aligned with
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