New Taxes for Large Multinational and Domestic Companies
The law introduces new taxes for large capital groups, both international and domestic, with annual revenues exceeding 750 million euros. The goal is to ensure that these companies pay income tax at a minimum rate of 15% globally, regardless of where they operate.
Key points
Introduction of three new types of taxes: global minimum tax, domestic minimum tax, and undertaxed profits rule tax.
These taxes apply to large groups of companies with revenues exceeding 750 million euros annually.
The minimum income tax rate for these groups is 15%.
The law specifies detailed rules for calculating income, taxes, and determining whether a company or group of companies is covered by the new regulations.
Provisions for the exchange of tax information between countries regarding these new taxes are introduced.
Rules for filing information returns and tax returns are defined, along with deadlines, with extended deadlines in the initial period of the law's effectiveness.
Possibility to use 'safe harbours' which simplify or exclude obligations in specific situations (e.g., for low-revenue jurisdictions or those with a qualified domestic minimum tax).
Amendments to other laws, including the Corporate Income Tax Act, Accounting Act, and Tax Ordinance, to align them with the new regulations.
55%
VOTING RESULTS
2024-11-06
For
236
Against
188
Abstain
9
Status:
Enacted
Record your position for audit.
Why does your vote on bills matter?
It creates raw, undeniable proof. Civic Will provides the permanent data to verify the Government's loyalty towards its citizens
(explained here).
Start recording it now.