No announcement regarding India’s adoption of the Pillar Two global minimum tax rules
The Finance Minister presented the Union Budget 2024-2025 before the Parliament in the form of the Finance (No. 2) Bill, 2024.
The proposed tax measures include:
There was an expectation that the government would provide guidance on India’s adoption of the Pillar Two global minimum tax rules, but there was no announcement in this regard.
Read a July 2024 report prepared by the KPMG member firm in India that provides more details about the tax measures in the Finance (No. 2) Bill, 2024.