OECD Announces Relief for Global Minimum Tax Return Filing (1)

The OECD will release guidance on Monday providing relief for companies that are concerned about late-filing penalties because the countries are experiencing a lag in implementation and technical issues.

Countries that have implemented the global minimum tax in 2024 “have reached a common understanding among themselves to mitigate the impact of any potential delays in the availability of fully operational portals to receive the GIR,” said Manal Corwin, director of the OECD’s Center for Tax Policy and Administration. The GIR is the global minimum tax return.

The jurisdictions that have applied the global minimum tax rules in 2024 have agreed ...