What do you understand by "GloBE Rules"? Which entities are covered under these Rules?
CA Final · Direct Tax Laws and International Taxation · PYQS · May 2024
What do you understand by "GloBE Rules"? Which entities are covered under these Rules?
Suggested Answer and Working Notes:
Pillar Two consists of GloBE Rules which means Global Anti-Base Erosion rules, through which 15% global minimum tax has been introduced. The GloBE Rules apply to Constituent Entities that are members of an MNE Group that has annual revenue of EURO 750 million or more in the Consolidated Financial Statements of the Ultimate Parent Entity (UPE) in at least two of the four Fiscal Years immediately preceding the tested Fiscal Year.
Topics: Overview of Model Tax Conventions
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