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U.K. Highlights Next Big Questions on Global Minimum Tax Rules

Jan. 14, 2022, 9:45 AM

Countries will grapple with several issues as they work to implement the newly agreed 15% global minimum tax, such as harmonizing how the measure is applied, and coordinating global rules with the U.S.'s minimum tax regime, a U.K. document said.

The U.K.—which is asking for public feedback in a consultation document as it considers how it will apply the rules—also pointed to an open issue that will be key to both companies and governments: Installing simplifications to reduce the large number of complex calculations taxpayers will have to make to comply.

“There needs to be a relentless focus on simplification,” ...