Finnish Parliament Passes Raft of Global Minimum Tax Amendments

The Finnish parliament approved Wednesday global minimum tax amendments implementing the latest tranches of OECD administrative guidance, including provisions exempting US companies from parts of the levy’s framework.

The amendments—adopting guidance from June 2024, January 2025, and January 2026—cover rules on deferred tax recognition and reconciliation, cross-border tax allocations, and safe harbor adjustments.

The global minimum tax seeks to levy large corporate groups at a minimum 15% rate and is half of a tax deal negotiated at the Organization for Economic Cooperation and Development.

The legislation also adopts the “side-by-side” package OECD countries agreed to earlier this year. ...