As part of 2022 tax reform, the Korean Ministry of Strategy and Finance (MOSF) announced, on 21 July, the introduction of draft domestic legislation for a global minimum tax. Korea’s summary draft rules, released in Korean, correspond closely to the OECD’s Pillar Two Model Rules, which was led by the OECD / G20 and has been agreed upon by 141 countries in the Inclusive Framework. Detailed legislation is expected in December.
International Tax and Treasury