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Global Minimum Tax

						The OECD has released a working paper on the Global Minimum Tax.

The global minimum tax introduces significant changes to the international tax system and, accordingly, to the taxation of large multinational enterprises. The OECD is actively consulting on a new unique international tax concept. In particular, in addition to the working paper, which clarifies many controversial points, at the beginning of this year, the OECD held a specialized webinar on the topic of the Global Minimum Tax.

The Global Minimum Tax (GMT) represents an important step forward in international cooperation in the field of taxation of multinational enterprises. Thanks to it, multinational enterprises with revenues of over 750 million euros will be subject to a minimum tax at an effective rate of 15%, wherever they operate.
The global minimum tax, introduced by the Rules of the Global Fight against Blurring of the Tax Base (GloBE), is a key part of the second Pillar (Pillar Two) to combat blurring of the tax base and profit shifting.

Agreed by more than 135 member jurisdictions of the OECD/G20 Comprehensive Framework Program to Combat Tax Base Erosion and Profit Shifting (the Inclusive Framework Program for BEPS) in October 2021, this decision is historic and aims to solve tax problems arising from globalization and digitalization of the economy.

Link to source: https://www.oecd.org/tax/beps/the-global-minimum-tax-and-the-taxation-of-mne-profit-9a815d6b-en.htm

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