A consultation was launched on the implementation of global minimum tax and minimum top-up tax in Hong Kong starting from 1 January 2025.The rules are designed to align with the Organisation for Economic Co-operation and Development (OECD) Base Erosion and Profit Shifting Pillar Two Global Anti-Base Erosion (GloBE) model rules.The government will strive to maintain Hong Kong's tax competitiveness and has proposed business-friendly features when formulating the legislative proposal. On 22 December 2023, Hong Kong issued a consultation paper1 on the implementation of Pillar Two GloBE Rules (i.e., Income Inclusion Rule and the Undertaxed Profits Rule (UTPR)) and the domestic minimum...