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An overview by ATOZ, Taxand Luxembourg
The OECD has recently published a list of countries that have implemented the Global Anti-Base Erosion (GloBE) Model Rules, also known as Pillar Two, which establish a global minimum tax for multinational and large domestic groups. Luxembourg is included on this list, confirming its compliance with the OECD framework.
Furthermore, the OECD has released updated guidance on the treatment of deferred tax assets that arose before the implementation of the global minimum tax, particularly in cases related to governmental arrangements or corporate income tax changes. In addition, the OECD also revised the GloBE Information Return, initially issued in July 2023, to aid in the compliance and administration of the GloBE Model Rules.
Andreas Medler from our Luxembourg member firm ATOZ has published a more detailed examination of these publications and their implications here.
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