Australia: Legislation implementing Pillar Two global minimum tax rules passes Senate

Two bills will return to the House of Representatives, while the other awaits Royal Assent

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November 27, 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 Senate on November 26, 2024.

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

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