The final quarter of the year has its own momentum in the tax world – the Budget, and the month of leaks leading up to it, the publication of the Finance Bill and the hectic period before the pay and file deadline. For those of us who work in international tax, there was an added dimension this year: a new system of taxation was added to the statute books as the legislation to give effect to Pillar Two, which was included in the Finance Bill, was passed by the Oireachtas and signed into law. From 1 January, companies with annual group revenues exceeding €750m will be subject to a new minimum effective tax rate of 15%.
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