Philippines Bureau of Internal Revenue preparing for Implementation of Pillar 2 QDMTT

The Philippines Bureau of Internal Revenue recently announced in a Facebook post that it is preparing for the possible implementation of the Pillar 2 Qualified Domestic Minimum Top-Up Tax (QDMTT), which is proposed by the Department of Finance in a draft Qualified Domestic Minimum Top-Up Tax Bill. The Philippines House of Representatives has also published a discussion paper on the effect of Pillar 2 global minimum tax rules on current tax incentives in the Philippines, including policy rec…