The Cyprus Minister of Finance issued a release on 8 January 2026 concerning the Side-by-Side (SbS) arrangement for the Pillar 2 global minimum tax, which was recently agreed to by the BEPS Inclusive Framework. The statement notes that under Council Directive (EU) 2022/2523 of 14 December 2022, safe harbors, such as those in the SbS arrangement, may be applied if agreed to by all EU Member St…