In 2025, the business world is facing an unprecedented tax transformation: the implementation of the 15% Global Minimum Tax for large multinational corporations. This agreement, promoted by the OECD and the G20, aims to ensure that companies pay a minimum amount of tax in each country where they operate, combating tax evasion and unfair competition between nations.

However, the withdrawal of the United States under the Trump administration and growing geopolitical tensions raise serious questions about the feasibility and impact of this reform.

 What Is the Global Minimum Tax?

Pillar Two of the OECD’s tax agreement establishes that multinational groups with consolidated revenues above €750 million must pay an effective minimum tax of 15% in every jurisdiction in which they operate. If a subsidiary pays less than 15% in a particular country, the parent company must pay the difference through a top-up tax.

This mechanism, known as GloBE (Global Anti-Base Erosion), is designed to prevent multinationals from shifting profits to low- or no-tax jurisdictions.

Global Implementation and Challenges

More than 140 countries have agreed to implement Pillar Two, including the European Union, Canada, Japan, and South Korea. However, the situation in the United States is different. The Trump administration has withdrawn the country from the agreement, arguing that it harms U.S. companies. This decision could trigger a global tax war and complicate international cooperation on taxation. (Source: The Times)

Implications for Businesses

Multinational companies must prepare by:

• Evaluating their tax structure: Identifying subsidiaries in low-tax jurisdictions and calculating the impact of the top-up tax.
• Updating accounting systems: Ensuring that financial systems can calculate and report the global minimum tax.
• Reviewing tax incentives: Some tax benefits may not be recognized under the new rules, impacting the effective tax burden.