The Decree contains provisions for the implementation of the internal minimum additional tax.
The QDMTT takes precedence over the income inclusion rule and the underpayment rule. The Decree must explain the meaning of the relevant terms and define the scope and conditions for the QDMTT. It also provides a detailed description of the calculation of QDMTT and the local accounting standards that should be used. The decree covers transitional and safe rules and establishes rules for tax payment.
The QDMTT applies to fiscal years beginning after December 31, 2023.