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 European Union. The German Federal Council approved the law implementing the directive on 15 December 2023, following its adoption by the German Parliament on 10 November 2023. The law applies a minimum tax rate of 15% to MNE groups with annual consolidated revenue exceeding €750 million in at least two of the past four fiscal years.