The UK Parliament has published a statement from the Exchequer Secretary to the Treasury welcoming the Side-by-Side arrangement for the Pillar 2 global minimum tax, which was recently agreed to by the BEPS Inclusive Framework. Measures to implement this agreement in UK law will be subject to technical consultation and brought forward in the next Finance Bill, applying for accounting periods beginning on or after 1 January 2026.
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International agreement on the Global Minimum Tax system…