The implementation of the Organization for Economic Cooperation and Development (OECD)’s Pillar Two introduces complex challenges for multinational groups with consolidated revenue over €750m. As you strive to understand the magnitude and impact of Pillar Two's 15% global minimum tax, it is important to adapt your systems, technology, processes, governance and controls to meet evolving data requirements while positioning for growth.
PwC has a tech-enabled approach, driven by the Pillar Two Engine, to help you quickly calculate the impact of Pillar Two and develop a response that is aligned to your business strategy. Supported by a global network of international tax specialists, PwC works collaboratively to navigate complexity and power great value to assess, report and comply effectively.
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Acting as the foundation to develop an extensive data strategy, assess operational preparedness, or determine a calculation approach, PwC’s Data Input Catalog is the core to Pillar Two readiness.
The Data Input Catalog outlines the comprehensive data requirements for Pillar Two, serving as a crucial tool to identify and map the data needed for calculation and upcoming compliance obligation. This dynamic and globally governed catalog includes all necessary data for the qualified domestic minimum top-up taxes, the Income Inclusion Rule (IIR) and the Undertaxed Payments Rule (UTPR), and will contain the essential information for forms as they become available.
We have been mapping Pillar Two data for over two years and have additional explanations, hundreds of user stories and can provide insight on the practical need for each data requirement.
A centralised, cloud-based calculation engine for quantifying the impact of Pillar Two, including provision, compliance, and modelling.
The Pillar Two Engine is adapted for relevant local rules and interpretations in order to meet Pillar Two requirements for global and statutory compliance, including constituent entity analysis, Transitional Safe Harbor assessments, and IIR, UTPR, and QDMTT computations and allocations.
Built on Beacon graph technology, the Pillar Two Engine computes accurate and visually traceable results. It is based on underlying data and uses a centralised rule library that is reviewed by global tax experts.
Check this PwC repository with all the information necessary to perform Pillar Two calculations.
PwC partners and thought leaders discuss and provide valuable insights on international tax developments around the world. Our podcasts not only provide you the latest regulatory changes and updates, but also explain how these changes can impact your business and offer possible solutions.
PwC’s Pillar Two Country Tracker Online helps you with the status of the implementation of the Pillar Two rules in different countries. Explore today.
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