Korea enacts new global minimum tax rules to align with OECD BEPS 2.0 Pillar Two

On 31 December 2022, Korea enacted new global minimum tax rules to align with the Organisation for Economic Co-operation and Development (OECD) Base Erosion and Profit Shifting (BEPS) 2.0 Pillar Two.
This Alert outlines the new rules as set forth in Korea’s 2023 Tax Reform.

Executive summary

Model Rules for the Global Minimum Tax (GloBE or OECD BEPS 2.0 Pillar Two) were released by the OCED on 20 Dec…