What the draft UK implementing legislation tells us.
As expected the draft legislation for the UK implementation of the pillar two global minimum tax covers only the income inclusion rule (IIR) at this stage. The undertaxed payments (or profits) rule (UTPR) draft legislation will be released in due course.
There is also for now no draft legislation for a UK domestic minimum top-up tax (such that UK profits would be topped-up to
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What the draft UK implementing legislation tells us.
As expected the draft legislation for the UK implementation of the pillar two global minimum tax covers only the income inclusion rule (IIR) at this stage. The undertaxed payments (or profits) rule (UTPR) draft legislation will be released in due course.
There is also for now no draft legislation for a UK domestic minimum top-up tax (such that UK profits would be topped-up to
If you or your firm subscribes to Taxjournal.com, please click the login box below:
If you do not subscribe but are a registered user, please enter your details in the following boxes:
