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Updates from the world of consortium digitalization.
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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. […]
rethinking organizational charts

3 February, 2023

Legal entity management – rethinking organizational charts

How to succeed in automating and delivering org charts to the group In many organizations, maintaining and updating org charts could be challenging. Entities may have changed names, become dormant, or a change in the ownership structure has taken place. Changes such as these must be reflected in the org charts you maintain for the […]

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 […]

28 December, 2022

How do you know if you need a (new) legal entity management solution?

In this article, we will look at why people decide to license a legal entity management solution. There are different reasons why you start using a legal entity management solution. Some reasons are similar for most groups, whereas others are very specific for some groups. There are also different reasons to utilize a legal entity […]
streetview of castle and horse statue

13 December, 2022

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 […]

13 October, 2022

Rethinking legal entity management

With the focus on digitalization and the development of legal functions in multinational companies, a person responsible for entity management needs to revisit the way of working with data collection. In discussion with our customers, we notice a focus in the following areas. A need to increase the quality of the entity management data Secure […]

16 August, 2022

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 […]
Stockholm City Skyline

15 June, 2022

Getting better control of your legal contracts

The legal department in a multinational organization often struggles to secure that it has control of their legal contracts. In this respect, you can divide the legal contracts into two main origination categories; Contracts prepared in a standardized environment, i.e., in a sales process. Contracts prepared “ad hoc” in Word with or without standardized templates. […]
Utilize Palantir to collect and structure global data

25 May, 2022

Tax regulations drive the need for increased quality in legal entity management and master data

Background The tax department manages many different processes where data control related to legal entity management and the legal ownership structure (Master Data) is vital. There are an increasing number of Tax-related obligations that require groups to file and disclose more data than ever before. Internationally the focus is on Corporate Tax Transparency, with the […]

30 March, 2022

Blika acquires German company audimex, increases sales, number of offices, and growth

The Swedish platform and compliance company Blika makes its first acquisition in Europe, the software company audimex, immediately after the investment company Main Capital becomes the new principal owner. Blika wants to increase growth in Europe rapidly. This acquisition provides two new offices in Germany and the possibility to reach both Austria and Switzerland customers […]

28 March, 2022

Dutch Main Capital is the new principal owner of the platform company Blika

The Swedish platform and compliance company Blika has a new principal owner. The Dutch investment company Main Capital has acquired 60 percent of the business to expand Main’s portfolio of software services aimed at the headquarters of multinational companies. Blika will gain greater reach and growth opportunities in Europe with the acquisition.  – Main has […]