Feedback Statement On The Implementation Of Pillar Two In Ireland

Overview of Pillar Two

The OECD initiative to introduce a global minimum 15% corporate tax rate (Pillar Two) was enacted in the European Union by the Pillar Two Directive (Council Directive (EU) 2022/2523) in December 2022. EU Member States must generally transpose the Directive into their national laws by 31 December 2023.

Implementation in Ireland

On 31 March 2023, the Department of Finance published a feedback statement inviting submissions on the implementation of the Pillar Two rules in Ireland. The feedback statement seeks submissions from stakeholders under the following headings:

1. The general approach to legislation

The feedback statement:

• confirms that implementing legislation will largely follow the Directive;