UK delays implementation of Pillar 2 global tax rules to Dec. 2023

The British government said on Tuesday it planned to delay until December 2023 the implementation of Pillar 2 legislation designed to ensure large multinational enterprises pay a global minimum level of tax.

In a letter to those who responded to a government consultation, the government said many had flagged that bringing in the new measures from spring 2023, likely ahead of other countries, would put UK businesses at a competitive and administrative disadvantage. read

"UK Pillar 2 legislation will first apply to accounting periods beginning on or after 31 December 2023," junior treasury minister Lucy Frazer wrote.

"This will give businesses an appropriate lead-in time before implementation and allow the policy to benefit from progress on the international process."

MOCTEN

 

In January 1993, EUNET launched the first online news website, MOCTEN.com (stands for Music Opinions Culture Technology Economy News), led by Eric Bach, Teus Hagen, Peter Collinson, Julf Helsingius, Daniel Karrenberg,...  Read more

×