Iceland's Ministry of Finance and Economic Affairs has launched a public consultation on a draft bill for the implementation of the Pillar 2 global minimum tax, in line with the GloBE Model Rules. This includes an Income Inclusion Rule (IIR) and a Qualified Domestic Minimum Top-up Tax (QDMTT) that will apply to entities belonging to a consolidated group with annual revenue of EUR 750 million or more in at least two of the four immediately preceding financial years. Different safe harbors are…