With the Pillar 2 rules, the complexity of global tax compliance will increase immensely for multinational groups. The rules include understanding regulations in many jurisdictions, data collection, performing and processing calculations, understanding accounting treatments, adjusting for changes in prior periods, and keeping track of reorganizations. A specific filing of Pillar 2 calculation returns and notifications is introduced.
System support will be essential to ensure compliance. Data likely needs to be retrieved from different sources to calculate and file Pillar2 returns.
We see five main areas where a multinational group needs to spend time on system support.
Blika has an integrated solution that can manage the data collection needed for Pillar 2. At the same time, we have vast experience in international tax law and how to facilitate required processes in a multinational group with the help of system support. We are at the moment in discussion with all our customers to evaluate a best practice solution concerning the Pillar 2 regulations. If you want to keep yourself updated regarding how your peers in the market consider approaching this complex area, please reach out to us for a discussion.
Digitalization of head office functions – what does it mean? Join us for a digital meeting and we will talk about your company’s needs and where you can start a digitalization journey with all of your group’s head office data.
If you are responsible for taxes in a multinational group, you will most certainly have thought about how a tax technology solution could support your tax function.
The basis is to support automation of data gathering in your organization in secure and efficient workflows and with full control of what every reporting person should perform on a timely basis.
You must be able to analyze the information in tables, reports and in an efficient analysis tool, regarding both current and historical data. Flexibility is key since a solution must handle processes that are centralized or decentralized.