Iceland's Ministry of Finance and Economy has launched a public consultation on plans for a draft bill for the introduction of the Pillar 2 global minimum tax (GloBE) rules in line with Council Directive (EU) 2022/2523 of 14 December 2022. This includes the introduction of the Pillar 2 income inclusion rule (IIR) and the undertaxed payment/profit rule (UTPR) in order to ensure a minimum tax level of 15% for MNE groups with annual consolidated revenue of at least EUR 750 million in at least t…