Second Round of Admin Guidance Issued On OECD Minimum Tax

The OECD released more administrative guidance on July 17 to implement the global minimum tax, one part of the international tax deal.

The second round of administrative guidance is intended to give businesses and countries more clarity on implementing the 15% tax, known as Pillar Two of the agreement, before some of its rules take effect in dozens of countries next year.

The guidance released Monday includes currency conversion rules for minimum tax calculations, information on managing tax credits including refundable credits, and the application of the substance based income exclusion provision.

There is also guidance on how to design ...