Which of the following statements is not true with respect to Pillar Two?

a$.$ An 'income inclusion rule' will apply to large multinartional businesses with consolidated group revenues of at least EUR $750$ million per year.

b$.$ Groups with effective tax rates below the minimum in any particular jurisidiction will be required to pay top$-$up tax.

c$.$ The switchover rule would amend bilateral treaties to switch from a credit method to an exemption method for income taxed at an insufficient effective rate.

d$.$ Pillar two establishes global minimum tax rules designed to ensure that large multinational businesses pay a minimum effective rate of tax $15\%$ on profits in all countries.