OrbitaxUK Updates Policy Paper on Pillar 2 Undertaxed Profits Rule to Account for OECD Inclusive Framework Administrative Guidance
|Proposed Changes|United Kingdom
On 27 September 2023, UK HRMC published an updated policy paper, Multinational top-up tax: adoption of the undertaxed profits rule and other amendments. The policy paper covers a measure to amend the recently enacted Finance (No.2) Act 2023 for the introduction of the Pillar 2 undertaxed profits rule (UTPR) into UK legislation. The Finance (No.2) Act 2023 introduced a multinational top-up tax …
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