📣 Important Update! 📣 The BEPS Pillar Two "Global Minimum Tax" is getting a new name... 🔄 Due to the way it's being implemented in local law, we should be referring to BEPS Pillar Two as the "Local Minimum Tax." This change better reflects the diverse enactment into local law across jurisdictions. It also reflects to the change in approach MNE's should have in adressing the challenges with complying with BEPS Pillar Two. The compliance process is shifting from top-down to bottom-up calculations, with all its challenges. Tax authorities are starting to implement the rules to optimize tax revenue and MNE's should be serious in their tax planning strategy to avoid double taxation, non compliance and unexpected risks for not disclosing the impact correctly. For tax professionals it is time to get serious about automation. Agree? Or not? #TaxNews #GlobalToLocal #BEPSUpdate #Orbitax
Jeroen van Asch MBA 🚀’s Post
More Relevant Posts
-
Our new Tax Matters Digest is out now, featuring: - A platform for reform: the UK’s international tax proposals - Connection, control and unallowable purposes - Payrolling of benefits in kind to become mandatory Read the latest analysis here: https://lnkd.in/gBmxbP8 #kpmgtax #taxmattersdigest #taxnews #taxupdates
-
Did you know that you can get a 2 week free trial of our Tax Research Platform? Let us revolutionise your research today! #internationaltaxation
Introducing our pioneering tool: The Global Minimum Tax Monitor! In a world of ever-evolving tax regulations, staying ahead is vital. Our revolutionary new Pillar Two monitor provides you with a comprehensive overview of global minimum taxation, making it easier than ever to compare implementation measures across different countries. Ready to revolutionize your tax game? Request a free demo today: https://lnkd.in/eDN35x33
-
Pillar Two: Q1 2024 Checklist for US MNEs Now that Pillar Two has been enacted in more than 25 non-US jurisdictions, calendar-year companies with interim reporting requirements are required to report on the legislation’s forecasted effects in their 2024 Q1 income tax provision. GTM’s International Tax Services Practice has developed a “checklist” of action items to help reduce this additional reporting burden and keep you on track as you assess your Pillar Two exposure for 2024. https://lnkd.in/e2uvcDnZ
Pillar Two: Q1 2024 Checklist for US MNEs
wts.com
-
In a global economy where multinational corporations often navigate tax jurisdictions to minimize their tax liabilities, the concept of a global minimum tax has gained significant traction. The idea is simple yet profound: establish a minimum level of taxation that countries agree corporations should pay, regardless of where they operate or declare profits. #ggf #ggfdialogue #ggfnews #ggfsociialmedia #ggfupdate #Ravindrakirti #tax
Global Minimum Tax: Will the Budget Offer a Roadmap?
globalgrowthforum.com
-
Interest in taxes from the political arena and society at large is more relevant than ever. Enterprises need to take account of numerous international developments and initiatives, both tax related and non-tax related. The strategic role of taxation has increased markedly. Tax strategy has become part of the license to operate. Consequently, tax is no longer the exclusive domain of the tax department, but of the wider group of stakeholders and it takes a prominent place on the management and supervisory agenda. Want to know more? Visit our site and read our updated publication on tax governance. https://lnkd.in/eWJN94eV
Tax governance
pwc.nl
-
Tax Manager - Global BEPS Desk New York - International Tax and Transaction Services en EY
Excited to share my latest article on LegalToday where I delve into the implications of the new proposed global tax of high-net-worth individuals. #GlobalMinimumTax #PillarTwo #TaxLaw #InternationalTax #EconomicEquity
Pillar Two is here, what is next? The global minimum tax for the super-rich
legaltoday.com
-
Broaden your Tax scope by reading the Fact Sheet of The Intra-European Organisation of Tax Administrations - IOTA-European Organisation of Tax Administrations (IOTA) here: https://lnkd.in/dfivXE9h IOTA alongside WATAF, are members of the @Network of Tax Organisations (NTO) #TaxMatters #FiscalResponsibility #TaxEducation #PublicFinance #TaxPolicy #RevenueGeneration#Taxation101 #FinancialStability #TaxAwareness #EconomicDevelopment #GovernmentRevenue #Budgeting #TaxCompliance #FundingTheFuture #TaxationSystem #CitizenResponsibility #TaxImpact#SmartTaxation #FinancialLiteracy #TransparentTaxation #TaxFairness #BudgetManagement #NationalDevelopment #TaxEfficiency #TaxationReform #SustainableFinance #IncomeTax #TaxJustice #CommunityInvestment #FundsAllocation
-
-
🤑 Minimum 15% of Taxation for Multinationals: A Fiscal Revolution or Just a Step Towards Ending Tax Evasion? 💰 A historic turn since January 1, 2024: a minimum tax of 15% is now imposed on large multinationals (with a turnover exceeding 750 million euros). A significant step in global taxation. 📍 The goal is to limit tax optimization by taxing profits where they are actually generated and to reduce fiscal competition. It is now essential to revew your international tax strategy! 👌 ➡️ Visit us: https://lnkd.in/exSMqws5 #InternationalTaxation #TaxReform #TaxStrategy #Multinationals #MinimumTax #TaxEvasion #GlobalFinance #WorldEconomy #FiscalManagement
-
-
The Global Tax Reform Impact 🌎✍️ Global tax reform is shaking things up, especially with frameworks like BEPS and the 2017 U.S. Tax Reform. These changes have far-reaching effects on local tax laws, especially in FATF-compliant countries. From where your teams are strategically located to how you manage tax planning, new considerations are arising. Companies must evaluate whether they have the right people and tech in place to handle the new tax lifecycle, capture potential tax advantages, and future-proof for more changes. Is your organization prepared for the global tax shakeup? 🧑💻📊 #BEPS #GlobalTaxReform #TaxPlanning #FATF #virtualbusiness #holdco #familyoffice
-
