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Companies Get More Explanation of Global Minimum Tax Rules (2)

March 14, 2022, 2:02 PMUpdated: March 14, 2022, 7:07 PM

Companies got further details Monday on how rules for a new 15% global minimum tax will apply in practice.

Last year, nearly 140 countries agreed to a global tax plan that would set a 15% global minimum corporate effective tax rate—known as Pillar Two. In December the Organization for Economic Cooperation and Development, which is leading the project, released model rules countries can use to adopt Pillar Two into their domestic legislation.

The Monday release is commentary to accompany the model rules. It includes more detailed explanations of definitions in the model rules. It also offers further details, including on ...