Financial Services – OECD Pillar 2 (GloBE) rules

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OECD Pillar 2 (GloBE) rules

In December 2021 the OECD issued their model rules setting out how the global 15% minimum tax rules could look. Countries adopting the rules are likely to follow these rules in their local legislation with a target for the first stage of legislation in 2022 and implantation from 2023.

The attached article seeks to explain these complex rules in as simple a way as possible. We have explained who will be in scope (multi-national groups with > EUR 750m of revenue), the broad structure of the regime, and what the next steps are that groups should take.

We have also included an example for anyone who wants to understand in a little more detail how the various calculations and concepts work and the level of data that would be required in order to carry the computations out. Our example is for an insurance group. Whether you are looking to understand the regime at a high level or in a little more detail, this article will help.

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FS tax update – OECD Pilliar 2 (GLoBE) rules
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