On 6 Decmeber 2023, our international team of tax experts discussed the introduction of the Pillar 2 rules from 1 January 2024, which in many countries represents a sea change for large multinational organisations (global revenue more than EUR 750 million). It brings with it both the potential for increased corporate income tax liabilities through the introduction of a minimum 15% effective rate of tax, but also a significant compliance burden and systems challenge. The OECD estimates that Pillar 2 will result in average effective tax rates increasing, across all jurisdictions, by approximately 0.6%.