Spain parliament publishes draft bill for pillar two global minimum tax implementation
On 14 June 2024, Spain’s Congress of Deputies published the draft bill for implementing the Pillar 2 global minimum tax under Council Directive (EU) 2022/2523 of 14 December 2022. The bill includes the introduction of the Pillar Two income
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Egypt reportedly finalising tax 2024-30 policy strategy, drafts new corporate tax law
The Egyptian Ministry of Finance’s tax policy strategy for 2024-30 is said to be in its final stages of completion, which possibly includes a draft of a new corporate tax law. It is rumoured that it will introduce a 15% minimum tax for
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Lithuania approves partial implementation of global minimum tax, sets new notification rules
Lithuania’s parliament approved Law No. XIV-2680, on 6 June 2024, which partially implements the Pillar Two global minimum tax under Council Directive (EU) 2022/2523 of December 14, 2022. This legislation includes postponing main provisions,
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Belgium publishes Pillar Two global minimum tax amendments
Belgium published amendments to the Pillar Two global minimum tax (GloBe) rules in the Official Gazette No. 2024004641, in Dutch and French, on 29 May, 2024. Earlier, the Belgian Chamber of Representatives, on 2 May, 2024, passed the law on
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Latvia: Parliament passes draft law to partially implement Pillar Two GloBE rules
Latvia’s parliament approved the Law on Ensuring a Global Minimum Tax Level for Large Enterprise Groups on 6 June, 2024. The law now awaits the president's approval and publication in the Official Gazette to take effect. Earlier Latvia had
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Malaysia announces timeline and FAQ for Pillar Two global minimum tax implementation
The Inland Revenue Board of Malaysia (IRBM) announced that it has updated its guidance page regarding the implementation of the Pillar Two global minimum tax rules. Two new key additions to the page include the implementation timeline of global
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Spain approves draft bill for Pillar Two global minimum tax implementation
Spain's Council of Ministers, on 4 June, 2024, passed the draft bill for implementing the Pillar Two global minimum tax under Council Directive (EU) 2022/2523 of 14 December 2022. The bill includes the introduction of the Pillar Two income
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Italy announces decree on Pillar Two transitional safe harbour rules
Italy’s Ministry of Finance announced the ‘TSH decree’, which was published in the official gazette on 28 May, 2024. This decree implements the Pillar Two transitional safe harbour (TSH) rules, as stipulated in Article 39 of Legislative
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OECD: Governments recommit to sign First Pillar of a global tax deal by June
The OECD said, on Thursday, 30 May, 2024, that governments around the world had recommitted to introducing the first pillar of a global tax deal on highly profitable multinationals at the G20 Inclusive Framework on Base Erosion and Profit Shifting
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Belgium announces deadline for first Pillar Two global minimum tax registration
Belgium's Federal Public Service (SPF) Finances, in a release, announced, on Wednesday, 29 May, 2024, the publication of the Royal Decree of 15 May 2024. It establishes new notification requirements for large multinational and domestic groups that
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Spain conducts second public consultation on global minimum tax implementation
Spain’s Ministry of Finance is conducting a second public consultation on the implementation of the Pillar 2 global minimum tax under Council Directive (EU) 2022/2523 of 14 December 2022. The consultation is set to conclude on 31 May,
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Spain initiates consultation on draft bill on Pillar Two global minimum tax
The Spanish government released draft legislation to implement the OECD’s Pillar Two global minimum tax under the EU Minimum Tax Directive 2022/2523 on 19 December, 2023. The Directorate-General for Taxation is now inviting comments from taxpayers
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Treaty on global minimum tax on multinationals fails to conclude
Italy's Economy Minister Giancarlo Giorgetti announced today, May 24, 2024, that the agreement on a global minimum tax on multinationals will not be concluded by June, as initially anticipated. The agreement will not receive approval from all
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UK: HMRC issues guidance for Pillar Two registration
The UK HMRC released practical guidance on Pillar Two registration requirements for multinational groups in the UK on 20 May, 2024. This guidance features a notice detailing the procedure for registering for Pillar Two Top-up Taxes in the UK. It
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Belgium issues GloBE registration rules for large domestic groups, MNEs
The Belgian tax authorities have announced the global anti-base erosion (GloBE) registration requirements for multinational enterprises (MNEs) and large domestic groups. These entities must register with the Belgian Commercial Register within 30
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Switzerland: Cantonal tax law reforms due to Pillar Two global minimum tax
In response to the implementation of the Pillar Two global minimum tax in Switzerland, effective from 1 January, 2024, several cantons have adjusted their tax rates or initiated projects to enhance their appeal as business locations. The Canton
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Italy adopts transitional safe harbours for Pillar Two global minimum tax
On Monday, 20 May, 2024, Italy’s Ministry of Economy and Finance announced the “Decree of 20 May 2024” which states the simplified transitional regimes (safe harbours) for multinational and national groups subject to the Pillar Two global
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Poland extends public consultation deadline for Pillar Two global minimum tax rules
Poland’s Minister of Finance Andrzej Domański announced on 16 May, 2024, the extension of the public consultation regarding the draft bill for the implementation of the EU Minimum Tax Directive under Council Directive (EU) 2022/2523 of 14
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