United Kingdom Tax Agency Issues Guidance on Filing Pillar 2 Top-Up Tax Information Returns

The United Kingdom HM Revenue and Customs Sept. 1 issued a guidance on the information reporting requirements for Pillar Two top-up taxes. The guidance includes: 1) that multinational enterprise (MNE) groups registered to report Pillar Two top-up taxes must file information returns within 18 months from the end of the first accounting period, or within 15 months from the end of the accounting period for the second period and beyond, and that penalties will be imposed for late filings; 2) the information return filing procedure and requirement, including the required software and documentation; and 3) that below-threshold notifications may be ...