A quarter of respondents said that they were ‘waiting to see’ what would happen with proposals from the OECD which would impose a minimum global corporate tax of 15%, found research by tax governance experts Loctax.

The UK will introduce the 15% minimum corporation tax for accounting periods ending on or after December 2023. Legislation will be included in Finance Bill 2022.

 A survey of 100 tax leaders, including heads of tax, tax managers, and CFOs from multinationals, found that nine in 10 thought the legislation - BEPS Pillar Two - would affect their business, but just over half (55%) were actively doing anything to prepare.