2024 Updates on Global Minimum Tax

Insights2024 Updates on Global Minimum Tax

2024 Updates on Global Minimum Tax (GMT).


As one of the most discussed topics, the Global Minimum Tax (“GMT”) is one of the largest tax reformations as part of the initiative under Pillar 2 of the Base Erosion Profit-Shifting (“BEPS”) 2.0 project. It subjects multinational companies, with an annual revenue of more than EUR 750 million in minimum 2 out of the past 4 fiscal years, a minimum tax rate of 15% regardless of their location.  

The Pillar 2 Model Rules, also known as Global Anti-Base Erosion (“GloBE”) Rules, were released by the OECD on 20 December 2021 to end the competition between countries to offer the lowest possible corporation tax rates to attract foreign investments by subjecting multinational groups around the world to a global minimum tax of 15%.


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2024 Updates on Global Minimum Tax

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