South Korea has become one of the first countries to implement the so-called “global minimum tax rule” this year, which aims to ensure companies pay at least 15 percent tax on corporate income, regardless of where they operate. The initiative aligns with international efforts to tackle tax avoidance by major corporations, as they often seek refuge in low-tax jurisdictions. Korea is one of about 20 nations.
The government has issued proposals to collect 23% from Israeli parent companies with 30+% affiliated companies that derive certain types of “mobile income” taxed abroad below 15%.
The European Commission has published its proposal for a Directive to implement the OECD Pillar Two Global Anti-Base Erosion rules (the “OECD GloBE Model Rules”).
The European Commission proposed on 22 December a Directive ensuring a minimum effective tax rate for the global activities of large multinational groups.
What did the European Commission propose? The European Commission has proposed a Directive to ensure a global minimum effective tax rate of 15% for large …