Germany Gazettes Law Implementing Pillar 2 Global Minimum Tax

The German Official Gazette Dec. 27 published a law implementing EU Council Directive 2022/2523, on ensuring a global minimum level of taxation for multinational enterprise (MNE) groups and large domestic groups in the EU. The law includes measures: 1) applying a 15 percent minimum effective tax rate (ETR) on multinational enterprises (MNEs) with annual global turnover of 750 million euros (US$830.5 million) or more; 2) introducing a national supplementary tax (NES); 3) introducing a primary supplementary tax (PES), effective for fiscal years beginning on or after Dec. 31, 2023, and a secondary supplementary tax (SES), effective for fiscal years beginning ...