Company: PAX
Filing Date: 2025-05-15
Form Type: 20-F
Source: 0001628280-25-025640
Chunk: 330

Company: Patria Investments Ltd
Filing Date: 2025-05-15
Form: 20-F
Item: Item 19
Chunk 330
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8,349)  
  Current (b)                                                                  ( 12,358)                   ( 10,500)      ( 6,784)  
  Effective tax rate current                                      ( 14.37                      ( 8.90                       ( 6.62  
  Deferred                                                                         2,052                      13,316      ( 1,565)  
  Effective tax rate - total                                     ( 11.98)                     ( 2.39)                         8.15  

(a) No amounts related to income taxes have been recognized directly in equity.

(b) Nexus contributed and US$ 0.5

  Patria Investments Limited      F-57  

  Table of Contents  

  Notes to the consolidated financial statements                                             
  As of December 31, 2024 and 2023 and for the years ended December 31, 2024, 2023 and 2022  
  (Amounts in thousands of United States dollars - US$, except where otherwise stated)       
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International Tax Reform - Pillar Two

The International Tax Reform - Pillar Two Model Rules, also referred to as the “ Global Anti-Base Erosion” or “ GloBE” Rules, was released by the Organization for Economic Co-operation and Development (OECD) on December 20, 2021. Delegates from all Inclusive Framework (IF) member jurisdictions developed the rules, and over 135 jurisdictions agreed to update the international tax system, considering it was no longer fit for purpose in a globalized and digitalized economy.

Pillar Two Rules aim to ensure that large multinational enterprises with consolidated revenues of EUR 750 million or more in at least two of the last four years pay a minimum effective corporate tax rate of 15% on income arising in each jurisdiction with revenue-generating activities. The means by which GloBE must be incorporated into domestic law is determined by each implementing jurisdiction.

For the year ending December 31, 2024, the Group has not incurred any top-up tax, considering it did not meet the requirements to be classified as a large multinational enterprise. The global revenues accounted for under IFRS have not exceeded EUR 750 million in at least two of the last four years, and the Group also does not expect to exceed the mentioned threshold in the 2025 financial year.

It is important to mention that the Group operates in multiple jurisdictions (Uruguay, Brazil, Cayman Islands, Chile