Kuwait Implementing Global Minimum Tax on Multinationals
2 days ago · Kuwait will enact a 15% minimum tax on multinational companies, bringing the country in line with the OECD’s global tax rules. The country issued Decree No. (157) of 2024 to implement a supplementary local minimum tax—or DMTT—on a group of multinational entities, Minister of Finance Noura Sulaiman Al-Fassam announced in a press release Monday. ...
Thailand to implement global minimum corporate tax rate from …
6 days ago · BANGKOK, Dec 27 (Reuters) - Thailand will implement a global minimum corporate tax of 15% on multinational enterprises from Jan. 1, 2025, the finance ministry said on Friday.
Global minimum tax on multinationals goes live to raise up to …
Jan 1, 2024 · Big multinational companies will from Monday be subject to a global minimum tax for the first time, as landmark cross-border tax reforms go live, seeking to raise up to $220bn in extra annual...
What does a 'global minimum tax' mean for global cooperation?
Feb 2, 2024 · More than 140 countries have committed to implement a new global tax agreement aimed at ensuring multinational companies pay a minimum rate of tax. The deal, which was proposed by the Organisation for Economic Co-operation and Development (OECD), imposes a minimum effective rate of 15% on corporate profits.
Latest news and updates on a global minimum corporate tax
Dec 18, 2021 · Latest news and updates on the proposed global minimum tax rate that aims to clamp down on tax evasion and prevent countries from competing by offering lower taxes to attract multinationals.
Global minimum tax will boost revenues for tax havens, says OECD
Jan 10, 2024 · An OECD working paper published on Tuesday estimated participating countries categorised as “investment hubs” would have the largest expected gains from the reforms, with corporate income tax...
OECD offers final guidance for global minimum corporate tax
Feb 2, 2023 · The Organisation for Economic Cooperation and Development detailed on Thursday the final guidance for governments on how to bring the new global minimum corporate tax into their law books,...
Hong Kong: Draft legislation implementing Pillar Two global minimum tax ...
6 days ago · The Hong Kong government on December 27, 2024, published draft legislation (Inland Revenue (Amendment) (Minimum Tax for Multinational Enterprise Groups) Bill 2024) implementing the Pillar Two global minimum tax rules for fiscal years beginning on or after January 1, 2025.The global anti-base erosion (GloBE) rules under the draft legislation largely mirror the OECD GloBE rules, with certain ...
Global Minimum Tax - OECD
The global minimum tax, which is based on the Global Anti-Base Erosion (GloBE) Model Rules, ensures that large multinational enterprises pay a minimum level of tax on their income in each jurisdiction where they operate, thereby reducing the incentive for profit shifting and placing a floor under tax competition, bringing an end to the race to ...
Thailand to apply 15% global minimum corporate tax in 2025
6 days ago · BANGKOK (Reuters) -- Thailand will implement a global minimum corporate tax of 15% on multinational enterprises from Jan. 1, 2025, the finance ministry said on Friday. The ministry said the "top ...