During their meeting held on 11 September 2024, Portugal's Council of Ministers approved Draft Law 21/XVI/1 for the implementation of the Pillar 2 global minimum tax in accordance with Council Directive (EU) 2022/2523 of 14 December 2022, which was submitted in parliament on the same date. The draft law includes the introduction of the Pillar 2 income inclusion rule (IIR) and the undertaxed payment/profit rule (UTPR) in order to ensure a minimum tax level of 15% for MNE groups with annual c…