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Australia: Legislation implementing Pillar Two global minimum tax rules passes House of Representatives

The bills now move to the Senate for consideration.

August 22, 2024

Legislation implementing a15% global minimum tax and domestic minimum tax on certain multinational enterprises (MNEs) with annual global revenue of at least € 750 million passed the House of Representatives on August 22, 2024.

The three bills—initially introduced in the House of Representatives on July 4, 2024 (read TaxNewsFlash)—include the:

Upon review, the Senate Economics Legislation Committee recommended that the bills be passed.

The bills now move to the Senate for consideration.

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