The global tax landscape is undergoing a seismic shift with the implementation of the OECD’s Base Erosion and Profit Shifting (BEPS) Pillar Two rules, which are designed to ensure that large multinational enterprises pay a minimum effective tax rate of 15% in every jurisdiction in which they operate. Pillar Two introduces new compliance challenges, including a significant departure from traditional entity-based reporting, and brings with it a series of data-related challenges that tax and finance teams must address to remain compliant. To understand these challenges in more detail, it is important first to recognise the group in scope of Pillar Two and then the data requirements to support operational complexities needed for Pillar Two compliance.
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