Greece Begins Process of Adopting Global Minimum Tax Law

Greece’s Ministry of Economy and Finance sent its global minimum tax draft law to the Ministerial Council on Tuesday for approval.

The proposal includes a domestic minimum top-up tax that levies groups in the country with a minimum 15% effective corporate tax rate and an income inclusion rule that levies the 15% rate on entities of local groups that are in foreign jurisdictions, too.

The ministry highlighted that Greece’s corporate tax rate remains at 22%, and said there is no risk of multinational companies leaving the country because other jurisdictions will impose the minimum tax, too.

• The ministry expects ...