# Finance (No. 2) Act 2023, Section 265: Introduction to domestic top-up tax

Extent: E+W+S+N.I.

(1) The purpose of this Part is to make provision for a qualified domestic minimum top-up tax within the meaning of the Pillar Two rules.
(2) For that purpose, this Part makes provision for a tax payable in respect of qualifying entities (that will be located in the United Kingdom) whose rate of tax (as determined in accordance with this Part) is less than 15%.
(3) The tax is to be known as “domestic top-up tax”.
(4) This Part applies (with modifications) many of the provisions of Part 3 (multinational top-up tax) for the purposes of—
(a) determining liability to domestic top-up tax, and
(b) administering domestic top-up tax.
(5) Except where the contrary appears, expressions used in this Part and in Part 3 (multinational top-up tax) have the same meaning in this Part as they have in Part 3.

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Source: https://www.legislation.gov.uk/ukpga/2023/30/section/265 (the official version)
Page: https://openlegislation.uk/finance-no-2-act-2023/section-265
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.