The Hong Kong Legislative Council Bills Committee released a report on the Inland Revenue (Amendment) (Minimum Tax for Multinational Enterprise Groups) Bill 2024 on 19 May 2025, affirming that it does not object to the amendments put forward by the government in April 2025 and will not suggest any additional changes to the Bill.
The Bill introduces a 15% global minimum tax under Pillar Two starting in 2025.
It is now set to move forward to its second reading scheduled for 28 May 2025.
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