255Pillar Two rulesU.K.
(1)In this Part references to the “Pillar Two rules” are to the Pillar Two model rules as interpreted in accordance with, and supplemented by—
(a)the Pillar Two commentary, and
(b)any further commentaries or guidance published from time to time by the OECD that are relevant to the implementation of the Pillar Two model rules.
(2)In subsection (1)—
“Pillar Two model rules” means the model rules published by the Organisation for Economic Co-operation and Development as “Tax Challenges Arising from the Digitalisation of the Economy – Global Anti-Base Erosion Model Rules (Pillar Two): Inclusive Framework on BEPS”;
“Pillar Two commentary” means the following—
(a)the commentary on the Pillar Two model rules published by the Organisation for Economic Co-operation and Development as “Tax Challenges Arising from the Digitalisation of the Economy – Commentary to the Global Anti-Base Erosion Model Rules (Pillar Two)”, and
(b)the examples illustrating the application of the Pillar Two model rules published by the Organisation for Economic Co-operation and Development as “Tax Challenges Arising from the Digitalisation of the Economy – Global Anti-Base Erosion Model Rules (Pillar Two) Examples”.
(3)Pillar Two rules apply to a multinational group, or a member of a multinational group, in an accounting period if—
(a)the group is a qualifying multinational group, or
(b)the group would be a qualifying multinational group but is not only as a result of Condition B in section 129(3) (requirement that at least one member located in the United Kingdom).