Irish Parliament Approves New Global Tax Reform Rules

Ireland’s parliament passed legislation Wednesday setting out a simplified transfer pricing approach for baseline marketing and distribution arrangements and amending existing global minimum tax rules.

The legislation was approved by the upper house Seanad Éireann Wednesday as part of Finance Bill 2024. It received approval by the lower house Dáil Éireann a day earlier and now goes to the president for signature.

The simplified transfer pricing approach for marketing and distribution arrangements is known as Amount B of Pillar One of the two-pronged global tax agreement brokered by the Organization for Economic Cooperation and Development.

• The global minimum tax rule ...