Pillar 2 Global Minimum Tax – what do Chamber Members need to know? | June 2024

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12 June 09:00 AM

Launchpad, Ground Floor, Hillary House, Prospect Hill

Pillar 2 Global Minimum Tax is an OECD initiative that aims to ensure that multinational enterprises pay tax at an effective rate of at least 15% on profits, regardless of where those profits are reported across the world, and applies to groups with worldwide revenues of €750m or more.

On 20 May 2024 the Treasury Minister confirmed that the Island intends to implement a Pillar 2 Qualified Domestic Top-up Tax from 1 January 2025.

The seminar will aim to:

Explain the Pillar 2 measures that the Island is intending to implement; and outline the impact on Isle of Man businesses and what they should now be considering in relation to Pillar 2.

There will be an opportunity at the end of the session for questions.

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Speaker:

David Parsons is a Deputy Assessor at the Income Tax Division with primary responsibility for the Government’s response to Pillar 2.

David is a Chartered Accountant and Chartered Tax Advisor and prior to joining the Division he spent over 30 years with a Big 4 Accountancy practice, advising on a wide range of corporate and personal tax matters.