UK Sees About $16 Billion From Global Minimum Tax Over Six Years

The UK government estimates it will net about £12.7 billion ($15.9 billion) from the global minimum tax over the next six years, according to figures published in its Autumn budget statement.

“If the UK had not implemented these rules, this tax would have been collected elsewhere,” according to the Autumn statement.

The government noted in the statement that implementation of the undertaxed profits rule will raise £260 million in fiscal year 2025-26, £420 million in 2026-27, £465 million in 2027-28, and £490 million in 2028-29. The UTPR is a backstop rule that applies when the other global minimum tax ...