In April 2024, the OECD released the Consolidated Commentary to the Pillar Two Global Anti-Base Erosion (GloBE) Model Rules. The release was a welcomed development for any tax professional working in this area as the Consolidated Commentary incorporated all prior Administrative Guidance released from March 2022 through December 2023 and presented the guidance within a single document. In June 2024, the OECD published a series of new guidance documents, including a new Administrative Guidance package, an important frequently asked question (Q&A) document called 'Qualified Status Under the Global Minimum Tax', and other guidance on Country-by-Country Reporting.

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