Tax Observatory › European taxation › Global minimum tax for groups with revenue of EUR 750 million or more: the November instalment, the side-by-side regimes and the accounts under OIC 25

Global minimum tax for groups with revenue of EUR 750 million or more: the November instalment, the side-by-side regimes and the accounts under OIC 25

For calendar-year groups already within the scope of the global minimum tax in 2024, 90 per cent of the tax due for 2025 must be paid by Monday 30 November 2026 and the balance by 30 April 2027 (Article 53, paragraph 2, of Legislative Decree No. 209/2023). For years beginning on or after 1 January 2026, subject to an election, the income inclusion rule (IIR) and undertaxed profits rule (UTPR) top-up taxes may be reduced to zero where the ultimate parent entity is located in a country with a qualified side-by-side regime; the domestic minimum top-up tax remains due.

Who is in scope

Title II of Legislative Decree No. 209 of 27 December 2023, which implements Council Directive (EU) 2022/2523 of 14 December 2022, applies to constituent entities located in Italy that belong to multinational or domestic groups with consolidated revenue of EUR 750 million or more in at least two of the four preceding years (Article 10). The top-up tax is levied as the IIR top-up tax (imposta minima integrativa), the UTPR top-up tax (imposta minima suppletiva) and the domestic minimum top-up tax (imposta minima nazionale); for the latter all the Italian group entities are jointly and severally liable, and the group designates the entity responsible and allocates the burden (Article 18, paragraph 7).

Payments and returns

The taxes are paid in two instalments: 90 per cent by the end of the eleventh month after the end of the financial year, and the balance by the last day of the month following the deadline for the return (Article 53, paragraph 2). The deadline for the return is the same as that for the GloBE Information Return (comunicazione rilevante): the fifteenth month after the end of the financial year (Article 51, paragraph 7), or the eighteenth for the transition year, that is, the first year in scope (Articles 54 and 58).

Payment is made with form F24 (the Italian tax payment form) without set-off, using tax codes 2730 (IIR top-up tax), 2731 (UTPR top-up tax) and 2732 (domestic minimum top-up tax), established by Resolution No. 63/E of 10 November 2025 of the Italian Revenue Agency (Agenzia delle Entrate). For the first three years of application, penalties are imposed only for wilful misconduct or gross negligence (Article 53, paragraph 5).

• Group in scope since 2024, calendar year 2025: first instalment by 30 November 2026, return by 31 March 2027, balance by 30 April 2027.
• Calendar-year group that came into scope in 2025: first instalment still by 30 November 2026, but return by 30 June 2027 and balance by 31 July 2027, a Saturday, so the deadline moves to Monday 2 August (Decree-Law No. 70/2011, Article 7).

The side-by-side regimes

Article 11 of Legislative Decree No. 148 of 7 August 2026 implemented the regimes of the package adopted within the OECD on 5 January 2026, inserting Article 39-bis into Legislative Decree No. 209/2023. For years beginning on or after 1 January 2026, by election of the filing entity, the IIR and UTPR top-up taxes are zero where the ultimate parent entity is located in a country with a qualified side-by-side regime (regime coesistente qualificato, paragraph 2). Only the UTPR top-up tax is zero for entities located in a country with a qualified ultimate parent entity (UPE) regime (regime qualificato della controllante capogruppo, paragraph 3). The domestic minimum top-up tax is not reduced to zero by paragraphs 2 and 3; however, subject to an election, the qualified tax incentive regime applies in computing it (paragraphs 4 to 6; Article 18, paragraph 1, point (a)).

In the accounts: OIC 25

In the annual financial statements, the amendments of 18 March 2024 to OIC 25, the Italian accounting standard on income taxes, exclude Pillar Two taxes, including qualified domestic minimum top-up taxes, from deferred taxation (paragraph 2A). Current tax is reported under the sub-item ‘Pillar Two current taxes’ of item 20 of the income statement (paragraph 27), and the notes to the financial statements state how much relates to the company’s own income and how much to the income of other group companies (paragraph 93A).

In practice

• By 30 November 2026 the liable Italian entity (for the domestic minimum top-up tax, the one designated by the group) pays 90 per cent of the 2025 tax, entering 2025 as the reference year on form F24 and ‘0102’ as the instalment; the balance is paid with instalment code ‘0202’.
• Penalties and interest due under ravvedimento operoso (self-correction with reduced penalties) are paid with tax codes 2733 and 2734, established by the same Resolution No. 63/E.
• For 2026, gather the data needed to evaluate the Article 39-bis elections, to be made in accordance with the ministerial decree under paragraph 7, which was to be adopted by 10 November 2026 and had not been published by 11 November (Article 11, paragraph 4, of Legislative Decree No. 148/2026).
• In the 2026 financial statements, show Pillar Two current taxes separately; prepare the disclosure in the notes; and formalise the allocation of the domestic minimum top-up tax among the Italian companies.
• From 1 January 2027 the rules will move to Articles 308 et seq. of the consolidated Act on income taxes: the threshold in Article 310, the side-by-side regimes in Article 339-bis, payments in Article 353.

Frequently asked questions

If the ultimate parent entity is in a country with a qualified side-by-side regime, does the Italian subsidiary still pay anything?

Yes, the domestic minimum top-up tax, where due: the election under Article 39-bis, paragraph 2, reduces to zero only the IIR and UTPR top-up taxes.

Can the tax be set off against tax credits?

No: Article 6, paragraph 1, of the Ministerial Decree of 7 November 2025 rules out any set-off.

Do Pillar Two taxes give rise to deferred taxes in the accounts?

No: OIC 25, paragraph 2A, excludes them from deferred taxation; they are recognised as current taxes in a dedicated sub-item.

Sources

Legislative Decree No. 209 of 27 December 2023, Articles 10, 18, 39-bis, 51, 53, 54 and 58 (text in force on 12 November 2026)

Council Directive (EU) 2022/2523 of 14 December 2022

Legislative Decree No. 148 of 7 August 2026, Article 11, paragraphs 1 and 4

Legislative Decree No. 117 of 19 June 2026, consolidated Act on income taxes, Articles 308, 310, 339-bis and 353 (from 1 January 2027)

Ministerial Decree of 7 November 2025, Article 6; Revenue Agency (Agenzia delle Entrate), Resolution No. 63/E of 10 November 2025

OECD, Inclusive Framework, Side-by-Side Package of 5 January 2026

OIC 25 ‘Income taxes’, amendments of 18 March 2024, paragraphs 2A, 27 and 93A