Iceland's Ministry of Finance and Economy has launched a public consultation on plans for a draft bill for the introduction of the Pillar 2 global minimum tax (GloBE) rules in line with Council Directive (EU) 2022/2523 of 14 December 2022. This includes the introduction of the Pillar 2 income inclusion rule (IIR) and the undertaxed payment/profit rule (UTPR) in order to ensure a minimum tax level of 15% for MNE groups with annual consolidated revenue of at least EUR 750 million in at least two of the last four immediately preceding financial years. Provisions are also included for the introduction...