The UK's implementation of the OECD Pillar Two rules

The Spring Finance Bill 2023, officially known as the Finance (No 2) Bill, contains draft legislation implementing key aspects of the Pillar Two international tax reforms into UK domestic law. The draft legislation introduces two new ‘top-up’ taxes: multinational top-up tax and domestic top-up tax. Gary Barnett, professional support lawyer, and Leslie Mok, tax associate, at Simmons & Simmons explain the background to the Pillar Two reforms and how the new top-up taxes will work.

This article was first published by LexisNexis who have agreed to Simmons & Simmons making it available online.