By: Kirsten Williams (she/her), International Relations, HM Revenue & Customs (HMRC)

Implementation is now underway of the new GloBE rules. These rules impose a global minimum corporate tax rate of 15% as part of the Organisation for Economic Co-operation and Development’s (OECD’s) Two Pillar Solution on Base Erosion and Profit Shifting (BEPS).

The issue of capacity building has therefore come into sharper focus. This includes supporting all members of the Inclusive Framework who intend to implement these far-reaching and complex new rules.

The UK’s HM Revenue and Customs, in collaboration with the OECD’s Forum on Tax Administration’s Capacity Building Network, will shortly launch a new capacity building initiative in the form of a peer support network.

The Knowledge Sharing Network (KSN) will bring together those directly involved in implementation of the new GloBE rules. The KSN will provide a forum for early implementers to share their experiences and ‘lessons learned’ and will allow open and supportive discussion of implementation and administration of the rules. 

The Network will offer a variety of virtual sessions with the opportunity for questions and answers. Online discussion boards will be available on a dedicated site hosted by the Canada Revenue Agency’s Knowledge Sharing Platform. 

Suggestions for topics of particular interest are welcome; offers of support for delivery of sessions would be warmly received. 

Please get in touch with Kirsten Williams (kirsten.williams@hmrc.gov.uk or Emma Lester (emma.lester@hmrc.gov.uk) for further information.