As Part of the 2023 Tax Reform Act, South Korea enacted new global minimum tax rules—GloBE Rules—to align with the OECD BEPS 2.0 Pillar Two. The Korean GloBE Rules are included in the Law for the Coordination of International Tax Affairs, effective on or after Jan. 1,...
A 15%+ financial statement effective tax rate may not be enough to avoid global minimum tax as part of BEPS 2.0 Pillar Two. Learn more.
Gibraltar's Parliament passed proposed Pillar Two legislation, and the resulting Global Minimum Tax Act 2024 was enacted on 23 December 2024. The new law introduces certain compliance and filing obligations for multinationals. 03 Jan 2025 EY Global Canada's updates to developing-country tariff prefe...
international taxationglobal minimum taxtax avoidancemultinational firmsThis paper studies how the global minimum tax shapes national tax policies and welfare in a formal model of international tax competition with heterogeneous couSocial Science Electronic Publishing...
GLOBAL MINIMUM TAX SIMULATION TOOL – OECD BEPS PILLAR 2 TOP UP TAX ASSESSMENT MNEs should prepare for the new Global minimum tax under OECD BEPS Pillar 2 and understand the potential impact to their businesses. The best practice is to run an impact assessment in parallel. This tool can hel...
As all member firms of WTS Global deliberately refrain from conducting annual audits, we can rule out any conflict with the Financial Market Integrity Strengthening Act (FISG) and can furthermore - if desired - serve our clients free of conflict in a long-term partnership. The member companies...
During the Budget 2023 tabling session on 7 October 2022, the Malaysian Minister of Finance announced that the government will introduce global minimum effective tax rate as recommended under Pillar Two and plans to implement qualified domestic minimum top up tax (QDMTT) in 2024. ...
The 15% minimum tax in the legislation passed by Congress shouldn't be confused with the one that the Treasury has been encouraging countries to approve.
U.S. Treasury Secretary Janet Yellen and the financial leaders of the other G7 nations (Canada, the United Kingdom, France, Germany, Italy, and Japan) recently agreed to a minimum corporate tax rate of 15 percent, and they are currently working to convince holdouts in the G20 nations to...
global minimum taxes and the intercompany impact. global minimum tax (gmt) is making headlines for multinational organizations. recently, several major tax reforms were passed that impact these businesses, including beat (base erosion tax), the inflation reduction act (a new 15% corporate alternat...