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The Global Base Erosion rules (GloBE rules) have been developed as part of the solution for addressing the tax challenges of the digital economy and are designed to ensure large multinational enterprises (MNEs) pays a minimum level of tax of 15% on the income arising in each jurisdiction where they operate by a system of top-up taxes. Read our high-level overview of the Pillar Two rules here.
In-scope groups with a 31 December 2024 fiscal year end will be working towards a compliance deadline of 30 June 2026 in all jurisdictions, with registration and notification deadlines arising in advance of this date.
Irish Pillar Two registration
The Irish Revenue have just released the registration portal allowing in-scope groups with Irish constituent entities to register for Pillar Two tax (GIR, IIR, QDTT) with the Irish Revenue.
Irish legislation confirms that the deadline for Pillar Two registration will be 12 months after the end of the first financial period within scope of the rules, which for groups that are within scope for a 2024 fiscal year will be 31 December 2025.
A penalty of €10,000 will apply for the failure to register in advance of the deadline.
Should you require any support with the Irish Pillar Two registration, please reach out to any of our specialist Pillar Two team below, or your usual RSM contact.
