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November 14, 2022
The role of business applications in responding to global minimum tax (Pillar Two) requirements
The new global minimum tax (Pillar Two) rules are expected to come into effect in 2024 and are set to dramatically change the international tax landscape. Significant new tax reporting and compliance requirements will arise for affected organizations in every industry. With the clock ticking, organizations should consider taking action now to understand the potential impacts of the Pillar Two Model Rules and potential develop a comprehensive plan, with technology at the heart of any approach. Organizations will need to adapt their internal processes and systems to manage the new computations and data requirements, to calculate their global minimum tax liabilities and satisfy reporting obligations.
A new EY and SAP paper explores the role of business applications in effectively responding to new requirements.