Overview
On 26 May 2022, Ireland announced a public consultation on how the Organisation for Economic Co-operation and Development (OECD) Pillar Two framework under BEPS 2.0 will be implemented into Irish law.
Pillar Two primarily consists of two interlocking domestic rules, together referred to as the Global Anti-Base Erosion (GloBE) rules, which will introduce a global minimum effective tax rate of 15% for in-scope businesses. The remaining element of Pillar Two, the Subject to Tax Rule, is a tr…