The Tax Programme of the OECD Korea Policy Centre, in collaboration with the OECD and the Asian Development Bank (ADB), organised a workshop on the Fundamentals of the Global Minimum Tax under Pillar Two at the President Hotel, Seoul, Korea, from 22 April (Tuesday) to 25 April (Friday). 

The workshop aimed to enhance the capacity of the delegates from each jurisdiction to implement the GloBE rules and strengthen the basis for international cooperation in the field of international taxation by sharing and discussing the structure of the GloBE rules, key strategies for their implementation in practice, tax incentive redesign, and examples of their implementation in countries in the Asia-Pacific region. The workshop was attended by 28 officials from tax authorities in the Asia-Pacific region and included the speakers from the OECD, ADB, Japan National Tax Agency, Korea National Tax Service, and Kim&Chang.  In addition, the African Tax Administration Forum (ATAF) joined us online to organize a session on the topic of Domestic Minimum Top Up Tax, which enriched the workshop with more information. The speakers were Jeff Mitchell(OECD), Jessica de Vries(OECD), Sathi Meyer-Nandi(ADB), Soojin Lee(Kim&Chang), Yoongoo Han(Korea), Soyeon Han(Korea), Teruaki Yajima (Japan), Yasutoshi Nishimura (Japan), Betty Ahwera(ATAF), Melissa Dejong(ATAF). 

The experts provided informative lectures on the implementation of a global minimum tax. On the first day of the workshop, Mr. Ryun Joo Lee, Executive Secretary of KPC gave an opening speech to kick off the event. The lecturers brought a wealth of experience in the formulation and practical implementation of the global minimum tax rules in the context of the implementation of Pillar 2, which was highly appreciated by participants from the jurisdictions in Asia-Pacific region. Mr. Jeff Mitchell explained the developments related to the Global Minimum Tax rules and the current status of legislation around the world. In addition, remaining tasks to the future Global Minimum Tax rules were presented, giving participants a comprehensive perspective. Yoongoo Han and Soyeon Han from the Korean National Tax Service explained Korea's preparation and implementation status for the global minimum tax and explained how it has been legislated and implemented in practice. Teruaki Yajima and Yasutoshi Nishimura from the Japanese National Tax Agency explained the status of practical implementation and legislative progress on the introduction of the global minimum tax by Japanese government ministries.

In a detailed explanation of the application of the GloBE rules, Jessica de Vries explained how GloBE rules are applied in detail. Ms. Soojin Lee from Kim & Chang Law Firm gave a detailed presentation on the Transitional CbCR safe harbor. The session on tax incentive discussed the design of tax incentive policies after the introduction of the GloBE and the changed landscape of competition in lowering tax and benefiting the MNEs following the introduction of global minimum tax. Participants shared the types of incentives and key policies currently in place in their respective countries, and the discussion was led by ADB. Concluding with a lecture on Peer Review, the workshop concluded a successful four-day programme.