UK Adds Over a Dozen Countries to Global Minimum Tax List

The UK added more than a dozen countries Wednesday to its growing list of territories recognized as implementing global minimum tax rules.

Indonesia, New Zealand, Singapore, South Africa and Switzerland are among the countries now considered Pillar Two territories by the UK, according to an updated list published by His Majesty’s Revenue and Customs.

Pillar Two is one half of a tax deal negotiated at the Organization for Economic Cooperation and Development. Multinationals with a consolidated group annual revenue of more than €750 million ($872 million) in at least two of the previous four accounting periods qualify for the UK’s ...