On 27 September 2023, the government of France presented the 2024 Finance Bill to Parliament. The bill aims to combat inflation, reduce the national debt and promote sustainable development. The Finance Bill includes a provision to implement the Pillar 2 global minimum tax, which is an international agreement to ensure that multinational companies pay a minimum tax rate of 15% for MNE groups with annual combined revenue of at least EUR 750 million in at least two of the previous four fiscal years. The Finance Bill also introduces a new tax, called the qualified domestic minimum top-up tax (QDMTT) for large multinational companies that operate in France. The rules are set to take effect primarily for financial periods commencing after 31 December 2023, except in the case of the UTPR, which will be applicable for financial periods commencing after 31 December 2024.
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