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International review for April 2023

Pillar Two implementation is gaining traction around the world, reports Tim Sarson (KPMG).

Pillar Two implementation update

Spain held a public consultation on implementation of Pillar Two that ran from 6 March 2023 to 24 March 2023. The consultation was designed to gather feedback from stakeholders in advance of Spain drafting its Pillar Two legislative proposal.

On 20 March 2023 Germany launched a public consultation on its draft Pillar Two legislation. This closed on 21 April 2023. The draft legislation closely follows the text of the EU Directive and also incorporates certain subsequently released OECD guidance. The draft provides for a qualified domestic minimum top-up tax (QDMTT) safe harbour rule in accordance with the EU Directive. It also includes the transitional country by country reporting (CbCR) safe harbour and the simplified calculation safe harbour for non-material constituent entities.

On 23 March 2023 Sweden released a memorandum...

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