현행 글로벌최저한세 제도의 분석과 개선방안

Abstract

In line with the Global Anti-Base Erosion (GloBE) Model Rules (Pillar Two) and Commentary approved and released by the OECD/G20 Inclusive Framework on BEPS (IF) as a guideline for domestic legislation of each country, Korea introduced the “Global Anti-Base Erosion Tax” as an independent chapter in the Adjustment of International Taxes Act on December 31, 2022. Subsequently, on December 29, 2023, Korea incorporated additional provisions from the GloBE Model Rules and Commentary, amending the Adjustment of International Taxes Act accordingly. Furthermore, the Global Anti-Base Erosion Tax was introduced into the Enforcement Decree of the Adjustment of International Taxes Act on December 29, 2023, with further revisions made on February 29, 2024. These updates provided more detailed provisions to the Adjustment of International Taxes Act than those originally established in 2022. However, it is acknowledged that the current Global Anti-Base Erosion Tax is not yet fully optimized. To address this, we identified the problems by evaluating across the four key areas, analyzed the Korean government’s proposed 2024 tax law amendments related to the Global Anti-Base Erosion Tax, and reviewed foreign legislation that has adopted the Global Minimum Tax system. Based on these findings, we proposed recommendations for improving the Global Anti-Base Erosion Tax. First, given that the Global Anti-Base Erosion Tax is legislation based on the Pillar Two GloBE Model Rules and Commentary, it is necessary to thoroughly review and address any deficiencies within the GloBE Model Rules and Commentary. To this end, it is necessary to supplement the regulations on the specific Computation of annual consolidated revenues in the Consolidated Financial Statements of the Ultimate Parent Entity and, establish the GloBE Loss Election for calculating Adjusted Covered Taxes. Second, in terms of institutional consistency with domestic tax laws, it is necessary to clarify the relationship between each additional tax by analyzing the application of the additional tax system under existing domestic tax laws. Additionally, the special provision concerning the extension of the statute of limitations under the Framework Act on National Taxes should be improved, with consideration given to introducing a separate special provision specially addressing the limitation period. Third, in terms of improving the completeness of the current system itself, it is necessary to resolve issues of ambiguity and inaccuracy in the current regulations, particularly the errors in Article 137, Paragraphs 2, 3, and 6 of the Enforcement Decree of the Adjustment of International Taxes Act. Fourth, in relation to the request for compliance with the principle of clarity in legislative delegation, it is necessary to revise the provisions on the Taxable Distribution Method Election and the provisions on the Transitional CbCR Safe Harbour. Lastly, countries such as the United Kingdom, the European Union, Australia, Canada, Japan, and Vietnam have implemented the Global Minimum Tax in their domestic laws. In most cases, these countries have introduced the Qualified Domestic Minimum Top-up Tax (QDMTT) along with the Income Inclusion Rule (IIR). By implementing the Qualified Domestic Minimum Top-up Tax (QDMTT), the Constituent Entities located in that implementing country can pay the Top-up tax within their own country, which is advantageous for securing domestic tax revenues. Therefore, Korea should actively consider introducing the Qualified Domestic Minimum Top-up Tax (QDMTT) under the Global Anti-Base Erosion Tax provisions in the Adjustment of International Taxes Act.