The UK government Wednesday said it will amend its global minimum tax regime to reflect ongoing multilateral negotiations.
The UK will make legal amendments to its 15% global minimum tax, known as Pillar Two, part of an OECD-led global tax deal agreed to by more than 140 countries in 2021, according to a policy paper released by His Majesty’s Revenue and Customs.
The changes will include a provision for “certain overseas undertaxed profits taxes to have qualifying status in the UK prior to the making of UK regulations and ahead of the outcomes of the ongoing process for international agreement ...
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