control of your Legal entity management
13 March, 2023 |

You must be in control of your Legal entity management data to be Pillar 2 compliant 

We have reviewed the data you need to manage to comply with the Pillar 2 process. Below is some information on legal entity data that will be essential to control.   Several new compliance tasks have been introduced that affect the tax department. These tasks require you to control your legal entities and data around the […]

The interaction between Safe Harbour and QDMTT
7 February, 2023 |

The interaction between Safe Harbour and Qualified Domestic Minimum Top-Up Tax

The interaction between Safe Harbour and Qualified Domestic Minimum Top-Up Tax increase the need for solutions outside of your accounting and tax accounting systems  Assumably, many countries will implement a local Qualified Domestic Minimum Top-up Tax (QDMTT) which will decrease the number of entities in a group where a full data collection process is needed. […]

30 December, 2022 |

Pillar 2 safe harbour

– The first step to implement a Pillar 2 solution in your group The OECD released the transitional Safe harbour rules in December and has its starting point in the CbC reporting to calculate if a jurisdiction qualifies. However, the rules are complex, and thus, you need to put a process in place to understand […]

streetview of castle and horse statue
13 December, 2022 | Tax management

Pillar 2 Timeline

Setting your group’s timeline for getting Pillar 2 ready is essential. Below we have gathered some thoughts regarding this based on our Pillar 2 discussions with multinational companies. One of the most common questions is, “When do we as a group need to be Pillar 2 ready?”. One obvious answer is that you must file […]

16 August, 2022 | Tax management

Why you want to avoid using the group accounting & tax accounting systems for Pillar 2 reporting

This article will look at challenges you face when implementing a solution for Pillar 2 reporting with a specific focus on data collection. The Pillar 2 rules are complex and require you to implement a solution that supports several steps to determine if you need to pay any top-up tax. In general, there are two […]

Lessons learned from implementing a process for MDR reporting
4 December, 2020 | Tax management

Lessons learned from implementing a process for MDR reporting

In this article we will share experiences from implementing a process for Mandatory disclosure-reporting. In January 2021, the reporting of arrangements under the Mandatory Disclosure Regulations (MDR) comes into force in most EU countries (countries such as Poland, Germany, Austria and Finland have already started the reporting). Is your company in the process of deciding […]

The new tax standard GRI207 – what it means in practice for the tax department
5 November, 2020 | Tax management

The new tax standard GRI207 – what it means in practice for the tax department

The Global Reporting Initiative (GRI) has released a new tax standard for transparency reporting (GRI207) which may have an impact on work carried out by the tax department. In this article we describe some practical implications for the tax department. To comply with the GRI207 standard you need to compile and make publicly available descriptions […]

Legal entity management
28 May, 2020 | Tax management

DAC 6 – valuable insights to consider when you set up your process

DAC 6 filing will likely be postponed until October 2020. This may give you some more time to fine tune your process to manage DAC 6 and make sure your group is compliant and to avoid heavy fines. The number of arrangements that will be filed may vary a lot from group to group but […]

4 May, 2020 | Tax management

DAC 6 – the benefits of avoiding questionnaires

When you implement a process to identify and collect information on your arrangements and potential arrangements for review and potential filing, you face a number of challenges. One is that you may need to collect information on arrangements from different departments and from local reporters. This within a tight 30-day rolling deadline. Many multinationals and […]

legal entity management
17 September, 2019 | Tax management

A guide for implementing an MDR (DAC6) solution

When you have established that you as a multinational or an intermediary have reportable arrangements under the mandatory disclosure regime (DAC 6), you need to put a process in place to identify and collect arrangements and consider what system solution you need in order to manage the reporting. This article will give you some insights […]

1 April, 2019 | Tax management

Tax management – The quality and accessibility of data “Navigating through no man’s land”

Some practical insights on how to access and manage important data for Tax functions, and the need for a web-based solution for effective Tax Management. There are an increasing number of Tax-related obligations which require groups to file and disclose more data than ever before. Internationally the focus is on Corporate Tax Transparency, with the […]

8 May, 2018 | Tax management

Country by Country reporting – what to consider ahead of the 2020 filing and beyond

Updated 2020-08-28 Many qualifying groups have now filed a number of CbC reports and the reported data has been made available for exchange between tax authorities. Now changes are starting to be introduced which you need to act on. You have likely gained a lot of experience from the first filings and might be wondering […]