Andrew Morreale’s Post

Registration opens today (Oct 20,2025) for program accounts under Canada’s Global Minimum Tax Act (“GMTA”). The GMTA tax accounts will have a “PT” program suffix. The GMTA may apply to multinational enterprise groups with annual consolidated revenues of €750 million or more, and introduces two domestic top-up tax regimes: ·      Qualified Domestic Minimum Top-Up Tax: A 15% minimum tax on Canadian-located constituent entities and permanent establishments. ·      Income Inclusion Rule: A 15% top-up tax on foreign-located entities where the ultimate or intermediate parent is Canadian. Canadian constituent entities subject to either top up tax or that are required to file returns or notifications under the GMTA, must register for an account with the Canada Revenue Agency. A single filing entity may file on behalf of the group, but group entities with GMTA tax liabilities may have individual registration requirements. https://lnkd.in/gpjmj4Bu