The Organization for Economic Co-operation and Development (OECD) recently published detailed rules that are meant to assist in the implementation of a major change to the international tax system, which will ensure multinational enterprises (MNEs) will be subject to a minimum 15 percent tax rate from 2023.
These rules define the scope and set out the mechanism for the so-called Global Anti-Base Erosion (GloBE) rules. They introduce a global minimum corporate tax rate of 15 percent. The minimum tax will apply to MNEs which meet a set revenue threshold.
