The UK Government is seeking views on the implementation of Pillar 2 in the UK, which will help to ensure multinational enterprises operating within the UK pay a global minimum level of tax (15 per cent) via a consultation which closes next month on 4 April 2022.
This consultation seeks views on the implementation and administration of the Pillar 2 Model Rules within the UK which includes:
- How the Model Rules are translated into UK law,
- Administration of the Globe Rules, and
- Implementation issues to be addressed in the Implementation Framework.
The consultation also asks for views on:
- The introduction of a UK domestic minimum tax, and
- Wider reforms to existing UK BEPS measures.
Chapter 2 of the consultation provides an overview of the Pillar 2 rules and how it will be introduced in the UK. The consultations key questions are set out on page 61.
Please contact leontia.doran@charteredaccountants.ie by close of business Monday 21 March 2022 with your feedback.
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