We hosted an insightful webinar on 11 February 2025, regarding the United Arab Emirates (UAE) Ministry of Finance's newly released Pillar Two (P2) legislation. This critical legislation requires Multinational Enterprises (MNEs) with annual revenues of €750 million or more to pay a global minimum tax rate of 15% on income earned in every country they operate.
The webinar offered a deep dive into various aspects of the UAE P2 legislation, focusing on:
- Scoping rules – businesses subject to P2
- Transitional CbCR Safe Harbours
- GloBE Income - Adjustments
- ETR/top-up tax calculation and substance based carve out
- Charging mechanisms – collection of the top-up tax in the UAE
- Interplay between UAE Corporate Tax and P2 (especially free zones)
- Compliance obligations – Can a group file their FY 2024 GIR in the UAE?
- P2 readiness and implementation roadmap
