Stora Enso Oyj – annual report – 31 December 2023
Industry: forestry
2.5 Income taxes (extract)
Impact of OECD Pillar Two model rules
The Group is within the scope of the OECD Pillar Two model rules as from 1 January 2024. The Group has no related current tax exposure for the financial year 2023. The Group applies the exception to recognising and disclosing information about deferred tax assets and liabilities related to Pillar Two income taxes, as provided in the amendments to IAS 12.
The Group has initially assessed its exposure to the legislation. Part of the Group’s operation in Uruguay may become subject to the Pillar Two minimum tax. The impact of the legislation to the Group’s average effective tax rate is expected to vary from year to year, and the Group estimates the tax impact in the short term to be between 0–15 million EUR per year. Estimates are based on the current understanding of the interpretation of the new rules.
Accounts examples 