At the end of September, the UK government published additional draft legislation which contains further amendments to the UK’s Pillar 2 draft legislation. Representations on the amended draft legislation, including the additional updates (summarised below), should be made by 25 October 2023. It is also confirmed that officials are reviewing comments already received, which do not need to be resubmitted.
According to an email from HM Treasury, the amended draft legislation reflects stakeholder observations on the draft Finance Act and July 2023 L-Day publication on this draft legislation, in addition to the OECD administrative guidance released in February and July 2023. This includes amendments in respect of the following areas:-