Other news in brief
A round up of other news this week.
A round up of other news this week.
Further commentary on the recent OECD release on Administrative Guidance for GloBE
As explained in the last edition of Tax Matters Digest, on 17 June 2024 the OECD/G20 Inclusive Framework (IF) released further guidance clarifying and simplifying the application of the Pillar Two rules. KPMG International subsequently published more detailed commentary containing KPMG observations and suggested actions for companies. Readers whose businesses are impacted by the new rules may also be interested in registering for a forthcoming Global Webinar on the OECD release on 11 July 2024 at 9am UK time and repeated at 4pm.
Notification deadline for Pillar Two GloBE registration extended in Belgium
Our recent article explained the Pillar Two GloBE registration requirements in Belgium where the deadline for the first registration had been confirmed as 13 July 2024. The Belgian Tax Authorities have now granted (by ‘administrative tolerance’) an extension of the notification deadline for Pillar Two GloBE registration for groups that do not intend to prepay, until 16 September 2024. The deadline remains unchanged for groups which intend to prepay. This is a welcome extension for many groups that are still in the process of gathering the required information. You can find more information in a short article from KPMG Belgium.
KPMG publishes UK and Global Economic Outlook reports
KPMG in the UK has published its UK Economy forecast for July 2024 providing forecasts for GDP growth, inflation and unemployment. KPMG International has also released its latest Global Economic Outlook for Q2 2024, which provides analysis on the economic prospects of key regions and countries.
