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Canada's Global Minimum Tax Act released for public comment

|Tax Alerts, Information Reporting, Legislation & Policy, National/Federal Taxation, Government & Public Sector, BEPS 2.0|Canada
Canada

  • The Department of Finance released new draft legislative proposals relating to the implementation of a global minimum tax under Pillar Two of the OECD/G20 Inclusive Framework on BEPS for public comment, due by 29 September 2023.
  • The draft Global Minimum Tax Act (GMTA) is intended to implement the income inclusion rule, the domestic minimum top-up tax rules and the UTPR (sometimes referred to as the Undertaxed Profits Rule) that form part of the Model Rules for the Global Minimum Tax.
  • This Tax Ale…

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