On 21 November 2024, the Spanish Congress of Deputies (lower house of parliament) approved the draft bill for the implementation of the Pillar 2 global minimum tax in accordance with Council Directive (EU) 2022/2523 of 14 December 2022, which must now be approved by the Senate (upper house). As previously reported, the draft bill 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…