The Organisation for Economic Co-operation and Development (OECD) published new administrative guidance to support the implementation of Global Minimum Tax of 15% Pilar Dos, an initiative aimed at ensuring that large multinational groups pay a minimum level of tax in the jurisdictions where they operate.
The update incorporates common criteria for jurisdictions that have adopted these rules and seeks to simplify compliance processes, promoting more uniform application among participating countries.
Although Costa Rica has not yet incorporated this regime into its legislation, Costa Rican companies that are part of multinational groups with a presence in jurisdictions that already apply these provisions could be impacted by the new international tax reporting and compliance obligations.
The publication reflects the progress of international standards in corporate taxation and the importance for companies with global operations to monitor these regulatory developments.
This has been a news service prepared by ICS. For more information about the report, write to info@ics.cr or call 2519-9992. ICS, tax specialists.