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Thai Cabinet Approves Introduction of Pillar 2 Global Minimum Tax — Orbitax Tax News & Alerts

On 7 March 2023, the Thai Cabinet approved the introduction of global minimum tax rules in line with Pillar 2 of the OECD's two-pillar solution, including a top-up tax for MNEs meeting a consolidated annual revenue threshold of EUR 750 million. For this purpose, a "Top-up Tax Collection Law" is being drafted by the Thai Revenue Department, which is to be finalized in 2023 and enter into force in 2025. Further details will be published once available.