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 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. […]
– 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 […]
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 […]
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 […]
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 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 […]
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 […]
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 […]
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 […]
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 […]
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 […]
