Tag: Global Minimum Tax Act

On 20 June 2024, Canada enacted new legislation imposing a 15% global minimum tax on profits, significantly impacting Canadian multinational corporations and those operating within the country. The new Global Minimum Tax Act (GMTA) legislates an income inclusion rule (IIR) and a qualified domestic minimum top-up tax (QDMTT). Key Points: Retroactive Implementation: The GMTA applies… Continue reading Legislation for Implementation of Pillar Two Global Minimum Tax Rules Enacted