UK Begins Testing Global Minimum Tax Returns for Multinationals

The UK has started a six-day test phase for multinational companies to submit their first global minimum corporation tax returns, HMRC said Thursday.

Multinational companies submitting their returns successfully through the May 13-18 test run don’t need to resubmit once the service goes live from May 19, His Majesty’s Revenue and Customs said.

• Multinational companies with consolidated group annual revenue of more than €750 million ($878 million) in at least two of the previous four accounting periods qualify toward the UK’s global minimum tax rules.
• The first return, for companies with a December 2024 year-end, is due by June 30. ...