STX · 10-K · 2026A · Full report
Pillar Two Global Minimum Tax
Seagate Technology Holdings plc · 2026-08-04 · Importance 84 · Surprise 100 · In source text
Starting in fiscal year 2026, major jurisdictions in which Seagate operates implemented the OECD Pillar Two global minimum tax framework. Seagate recorded a $506 million income tax provision in fiscal year 2026, compared with $44 million in fiscal year 2025, and its effective tax rate increased to 13.73% from 2.91%. The company said tax benefits from Singapore and Thailand incentive programs were offset in part by the effects of the Pillar Two minimum tax.
Key facts
- Starting from fiscal year 2026, major jurisdictions that we operate in have implemented Pillar Two global minimum tax. source
Impact estimates
| metric | direction | stage | expected | basis |
|---|---|---|---|---|
| net_income | negative | realized | — | Starting from fiscal year 2026, major jurisdictions that we operate in have implemented Pillar Two global minimum tax. |