Italy has amended its global minimum tax law to include temporary key safe harbor provisions to simplify the application of the tax rules, while Belgium companies can now register for the tax.
Italy’s Ministry of Economy and Finance published a decree and explanatory material on May 21 to introduce the Organization for Economic Cooperation and Development’s country-by-country safe harbor and undertaxed profits rule safe harbor. Both measures aim to zero out separate top up tax liabilities under the global minimum tax framework.
The safe harbors will only apply for a limited time for fiscal years from December 31 2026 to ...
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