OECD publishes guidance on global minimum corporate tax rules

OECD publishes guidance on global minimum corporate tax rules

The OECD, on February 2, released technical guidance to assist governments with implementation of the 15 percent global minimum corporate tax rate.

Guidance is included on the recognition of the United States’ minimum tax (known as the Global Intangible Low-Taxed Income or GILTI) under the GloBE Rules and on the design of Qualified Domestic Minimum Top-up Taxes. The scope, operation and transitional elements of the GloBE Rules are also included in the guidance.

The guidance will be incorporated into a revised version of the Commentary that will be released later this year.

Grace Perez-Navarro, Director of the OECD Centre for Tax Policy and Administration, said: “The release of today’s guidance represents the final but significant piece of work on the GloBE Rules that the Inclusive Framework members had committed to deliver as part of the implementation framework.”

“While this brings an end to the work we had set for ourselves in October 2021, we will continue, over the coming months, to work hard to ensure that the rules are implemented in a co-ordinated and administrable manner.  This will include listening to stakeholders on how the operation of the rules can be further refined to reduce compliance costs and achieve better tax certainty for business and how we can optimise the information to be reported in the GloBE Information Return, while also developing a robust and transparent peer review process and expanding our capacity building efforts.”