Glossary
Global minimum tax (Pillar Two)
An OECD framework imposing a 15% minimum effective corporate tax on large multinational groups (revenue over €750m), limiting the benefit of very low-tax jurisdictions.
Under the OECD's Pillar Two rules, multinational groups with consolidated revenue above €750 million must pay an effective corporate tax of at least 15% in every jurisdiction they operate in. If a country taxes them less, another country can “top up” the difference.
Why it matters
For large groups, Pillar Two blunts the advantage of 0% and low-tax jurisdictions. For most founders and small companies below the €750m threshold, it does not apply — but it signals the direction of travel, and it is why headline zero-tax rates increasingly come with conditions.
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