Global Minimum Tax

[wellington]

I thought this was being introduced for commercial entities with profits in excess if 700m or something

Just heard it's 15m

Would appreciate some feedback

 

[Martin Everson]

Where did you hear about 15m?

Global minimum tax deal on multinationals set to fail, G7 chair says​

https://www.reuters.com/business/gl...inationals-set-fail-g7-chair-says-2024-05-24/

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Please note my posts should not be taken as financial or tax advice. Please seek professional advice in that respect.

 

[wellington]

Martin Everson said:
Where did you hear about 15m?

Global minimum tax deal on multinationals set to fail, G7 chair says​

https://www.reuters.com/business/gl...inationals-set-fail-g7-chair-says-2024-05-24/
Click to expand...

Earlier today when talking with an accountant

 

[Sols]

The minimum tax rate is 15%. Maybe that's what your accountant was talking about?

15 million might be a local law thing.

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This is the probably the answer to your question.