Canada Issues Guidance on Pillar 2 Global Minimum Tax Filing Requirement

The Canadian Government Jan. 30 issued guidance on global minimum tax filing requirements under the OECD Pillar Two initiative, for multinational enterprise (MNE) groups with annual global turnover of at least 750 million euros (US$886.1 million) in at least two of the four preceding fiscal years for fiscal years beginning on or after Dec. 31, 2023. Topics covered include: 1) information needed for the Global Anti-Base Erosion (GloBE) Information Return (GIR), Global Minimum Tax Return, and GIR Notification; 2) filing due dates of 18 months after the last day of the fiscal year for an entity of the qualifying MNE ...