Belarus releases guide on tax changes for 2024
On 27 December 2023, the Belarus Ministry of Taxes and Duties published a guidance concerning various tax changes for 2024. The tax changes were introduced through Law No. 327-Z of 27 December 2023 as published in the Official Gazette. The main
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Finland passes pillar 2 global minimum tax
On 28 December 2023, Finland's Ministry of Finance declared that it passed the bill HE 77/2023 vp. This bill enacts the implementation of the Pillar 2 global minimum tax by Council Directive (EU) 2022/2523 of 14 December 2022. On 19 October 2023,
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Germany gazettes law applying Pillar 2 global minimum tax rules
On 27 December 2023, the German Official Gazette released a law enacting EU Council Directive 2022/2523, which aims to establish a global minimum level of taxation for multinational enterprise (MNE) groups and large domestic groups within the
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Luxembourg implements pillar two global minimum tax
On 20 December 2023, the Luxembourg Parliament approved Law No 8292 of 22 December 2023 on pillar two global minimum tax. The bill aims to incorporate the OECD Pillar Two global minimum tax rules in line with EU Council Directive 2022/2523 of 14
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Ireland passes finance act (no. 2) 2023 for 2024 budget and pillar 2 global minimum tax
On 18 December 2023, Ireland enacted the Finance Act (No. 2) 2023 (Act No. 39 of 2023), which contains provisions for the Pillar 2 global minimum tax in line with Council Directive (EU) 2022/2523 of 14 December 2022. In addition to the Pillar 2
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Croatia approves pillar 2 global minimum tax
On 22 December 2023, Croatia announced in the Official Gazette that it approved the Law on Minimum Global Profit Tax. The Croatian Parliament adopted the legislation on 15 December 2023. This law enacts the implementation of the Pillar 2 global
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Switzerland to implement pillar 2 global minimum tax in 2024
On 22 December 2023, the Swiss Federal Council published a release in which it confirmed enforcing the Pillar 2 global minimum tax in Switzerland from 1 January 2024. As previously reported, the Federal Council will gradually introduce the global
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Czech Republic: President approves law to enact global minimum tax
On 14 December 2023, according to an update released by the Czech Republic Parliament, President Petr Pavel signed the law to implement the Pillar 2 global minimum tax under the Council Directive (EU) 2022/2523 of 14 December 2022. On 29 December
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Romania: Parliament passes pillar 2 global minimum tax
On 19 December 2023, the Romanian Chamber of Deputies (lower house of parliament) approved the law to implement the Pillar 2 global minimum tax under Council Directive (EU) 2022/2523 of 14 December 2022. In addition to the Pillar 2 global minimum
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Hong Kong starts public discussion on adopting pillar 2 GloBe rules
On 21 December 2023, the Hong Kong Inland Revenue Department declared the launch of a public consultation on the implementation of global minimum tax under Pillar Two of the international tax reform proposals drawn up by the Organisation for
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Italy approves pillar 2 global minimum tax
On 19 December 2023, Italy’s Council of Ministers issued a press release in which it passed the legislative decree for implementing the Pillar 2 global minimum tax under Council Directive (EU) 2022/2523 of 14 December 2022. This includes the
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Sweden: Parliament approves bill to implement Pillar 2 global minimum tax rules
On 13 December 2023, the Swedish parliament (Riksdag) declared the approval of a bill to implement the Minimum Taxation Directive (2022/2523) into Swedish law ensuring a global minimum tax level for large multinational and domestic groups in the
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US: IRS releases draft form for corporate AMT
The U.S. IRS has released the draft Form 4626 - Alternative Minimum Tax—Corporations concerning Corporate Alternative Minimum Tax (CAMT), The Inflation Reduction Act introduced CAMT, which enforces a minimum tax of 15% on the adjusted financial
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Netherlands announces major tax amendments for 2024
The Dutch Ministry of Finance released an overview of the most important tax amendments for 2024. These changes pertain to the Tax Plan for 2024, which the Dutch Senate approved on 19 December 2023. The key explanations and measures include:
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Denmark gazettes law implementing Pillar 2 global minimum tax
On 13 December 2023, the Denmark Official Gazette published Law No.1535 enacting EU Council Directive 2022/2523 into domestic law, which aims to establish a global minimum level of taxation for multinational enterprise (MNE) groups and large
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Netherlands: Parliament passes tax plan for 2024 and pillar 2 global minimum tax
On 19 December 2023, the Dutch Senate (upper house of parliament) passed the Tax Plan for 2024, which includes the Pillar 2 global minimum tax and other tax measures. On 27 October 2023, the House of Representatives (lower house) approved the Tax
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Russia: CBR increases the interest rates to 16%
On 15 December 2023, the Russian Central Bank (CBR) announced the decision to increase the key rate from 15% to 16% in an effort to combat rapidly rising inflation. The Central Bank of Russia utilizes its key interest rate to determine interest
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Austria: Nationalrat approves bill to implement Pillar 2 global minimum tax
On 14 December 2023, the Austrian lower house of parliament (Nationalrat) approved Bill No. 2322 dB on the execution of the Minimum Taxation Directive (2022/2523) to ensuring a global minimum level of taxation for multinational enterprise groups and
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