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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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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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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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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Belgium passes draft bill on GloBE rule
On 14 December 2023, the Belgian parliament approved the draft bill to implement the global minimum tax, Pillar 2, into Belgian law. On 30 November 2023, the draft law for implementing the global minimum tax Pillar Two was accepted by the Belgian
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Bulgaria: National Assembly approves Pillar 2 global minimum tax rules
On 12 December 2023, Bulgaria's National Assembly declared the approval of amendments to key tax laws, namely the Local Taxes and Fees Act, the Value Added Tax Act and the Corporate Income Tax Act. Notably, significant changes were made to the
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Hungary publishes GloBE laws in the official gazette
On 30 November 2023, Hungary published Law LXXXIII of 2023 on the amendment of individual tax laws and Law LXXXIV of 2023 on additional taxes in Gazette No. 171 of 30 November 2023. The recently enacted laws ensure a global minimum tax level and
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Kazakhstan announces amendments to its tax lawsÂ
On 12 December 2023, Kazakhstan published Law No. 45-VIII of 12 December 2023 in the Official Gazette, providing various amendments to its tax laws including digital assets. The key amendments are as follows: The amendment of the new limit on
See MoreKazakhstan: Proposed super profit tax on Banks
As of 2023, Kazakhstan's banking sector is at an important juncture with the proposed introduction of a super profit tax. The proposed tax reform in Kazakhstan focuses on introducing a super-profit tax on banks' earnings from government securities.
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Denmark: Parliament passes pillar two global minimum tax law
On 7 December 2023, the Danish Parliament passed legislation to implement the Pillar 2 global minimum tax (GloBE) rules. This legislation closely adheres to the framework established by the Council Directive (EU) 2022/2523 of 14 December 2022. On 23
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Ecuador introduces tax reform bill aimed at boosting foreign investment
On 28 November 2023, newly elected President of Ecuador, Mr. Daniel Noboa proposed a tax reform bill designed to attract foreign investment and boost the economy. The key proposals of the bill are as follows: The special economic development
See MoreCzech Senate passes global minimum tax rule
On 1 December 2023, the Czech Senate passed a law to enforce the Pillar 2 global minimum tax under Council Directive (EU) 2022/2523 of 14 December 2022. On 27 October 2023, the law was approved by the Chamber of Deputies. On 30 August 2023, the
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Slovenia accepts draft bill implementing Pillar 2 global minimum tax
On 22 November 2023, the Slovenian government presented a draft bill to the National Assembly for the implementation of the Pillar 2 global minimum tax rule in accordance with Council Directive (EU) 2022/2523. The draft bill aims to establish a
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Vietnam: NA passes resolution to implement Pillar 2 global minimum tax
On 29 November 2023, the National Assembly (NA) passed a resolution to implement the Pillar 2 global minimum tax rules. According to this resolution, multinational enterprises with a total consolidated revenue exceeding €750 million (around $800
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Slovenia proposes temporary additional bank tax and corporate income tax rate increase
Slovenia has announced plans to introduce a new 0.2% tax on banks' balance sheets and raise the corporate income tax (CIT) from 19% to 22% to fund measures to support areas affected by the floods of August 2023. The temporary bank tax will be in
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Pakistan: FBR issues notification imposing 40% windfall tax on banks
On 21 November 2023, the Pakistan Federal Board of Revenue (FBR) released Notification SRO 1588(I)/2023, Which notified that imposed a 40 percent additional tax on windfall profits of banks arising from foreign currency deals throughout 2021 and
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Austria: Nationalrat considers bill to implement Pillar 2 global minimum tax
On 24 November 2023, the Austrian lower house of parliament (Nationalrat) approved Bill No. 2322 dB for consideration to ensure Pillar 2 global minimum global taxation for multinational enterprise (MNE) groups and large domestic groups in the
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