Many multinational organisations are struggling with how to identify and extract the data required for pillar two, how to wrangle that data, and how to integrate it into a streamlined process. The webinar addresses these issues and can be viewed here.
Industry experts from insightsoftware and KPMG discussed:
Pillar two updates and an at-a-glance guide, including a summary of the qualified domestic minimum top-up tax, the income inclusion rule, and the undertaxed profits rule;
How the implementation of pillar two is progressing in key jurisdictions;
The data and process challenges involved;
How a single solution can create efficiencies in tax accounting, reporting and transfer pricing;
Insightsoftware’s Longview platform, and demonstrated how it can help to manage the tax transformation challenges businesses are facing; and
The primary considerations in building a business case for tax transformation.
Key pillar two questions
Kathryn Abate, senior product manager at insightsoftware, Susie Cooke, global tax transformation leader at KPMG in Canada, and Richard Wheeler, a director at KPMG UK, also responded to audience questions, including the following:
Whether having so many data points should be a genuine concern for multinational enterprises (MNEs) as they face interrogating their systems for the GloBE information return;
How much additional work is needed for MNEs to produce data for the GloBE information return compared with country-by-country reports;
Whether companies should have dedicated teams to handle the BEPS 2.0 compliance requirements; and
The potential timescales involved in implementing a pillar two technology solution.
Find out more
A personalised demonstration of Longview is available here.
For further information on pillar two, visit the insightsoftware website.
