Companies in Australia Get a Raft of Global Minimum Tax Guidance

The Australian government on Wednesday released a trove of guidance detailing how companies can comply with the 15% global minimum tax.

The guidance published by the Australian Tax Office details how its global minimum tax law interacts with the country’s consolidated group tax rules, as well as filing obligations for consolidated groups under the levy.

The minimum tax, also known as Pillar Two of the OECD-led international tax pact, seeks to impose a 15% minimum rate on multinational companies in every country where they operate.

One piece of guidance defines a consolidated group under Australian tax law and ...