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Implementation of OECD Pillar Two in the UAE and Southeast Asia - Comparative Insights on Minimum Taxation and Incentive Policy Reforms
A detailed analysis of legislative frameworks, technical adaptations, and practical implications for multinational enterprises under the evolving global minimum tax regime in the United Arab Emirates and key Southeast Asian jurisdictions
This document aims to provide a detailed comparative analysis of the implementation of the OECD’s Pillar Two framework in the United Arabic Emirates (UAE) and Southeast Asian countries. The global tax landscape is undergoing one of the most significant transformations in recent decades. The Organization for Economic Co-operation and Development’s („OECD“) Pillar Two framework, under the broader Inclusive Framework on Base Erosion and Profit Shifting („BEPS 2.0“), introduced a Global Anti-Base Erosion („GloBE“) system designed to ensure that large multinational enterprises („MNEs“) pay a minimum level of tax - no less than 15 % - on income earned across jurisdictions. Adopted in December 2021 and refined through subsequent Administrative Guidance, Pillar Two fundamentally challenges traditional international tax planning structures.
I. Introduction
It shall be noted that the new GloBE Model Rules („GloBE MR“) particularly affect jurisdictions like the United Arab Emirates („UAE“) and several Southeast Asian economies (Singapore, Malaysia, Indonesia, Thailand, and Vietnam), where historically low corporate tax rates and investment incentives have traditionally been us...