Multinational Top-up Tax and Domestic Top-up Tax

The UK is implementing Pillar 2 of the OECD's global minimum tax agreement, which introduces a Multinational Top-up Tax (applying to large multinational enterprises with global revenue over €750m) and a Domestic Top-up Tax (applying to large UK-resident companies). HM Revenue & Customs leads implementation through the Multinational Enterprises (Financial Transparency) Bill, with active consultation on draft guidance and further amendments ongoing.