Global minimum tax eyed to protect tax base

THE Bureau of Internal Revenue (BIR) has begun preparations for the possible implementation of a global minimum tax regime to ensure that large multinational companies pay a uniform rate on income generated in the Philippines. In a statement on Thursday, the BIR said it had started groundwork for the proposed qualified domestic minimum top-up tax (QDMTT), a measure being pursued by the Department of Finance (DOF) as part of the country’s response to evolving international tax rules. &ldquo