Operational Challenges
Pillar Two introduces a 15% minimum corporate tax rate for companies with annual group revenues exceeding €750 million. This landmark reform necessitates significant adjustments in tax reporting and compliance processes.
The report delves into the operational challenges posed by Pillar Two, such as increased data requirements and the need for consistent, reconcilable data across all operational territories.
We have identified over 260 data points necessary for compliance, many of which have not previously been included in tax provision calculations. This highlights the critical need for accurate, comprehensive data sourcing and integration.
Transformational Opportunities
In this report we explore how existing platforms and new tools, such as Oracle Tax Reporting Cloud Service (TRCS) and PwC’s proprietary Pillar Two Engine, can provide reliable, sustainable solutions for compliance and strategic tax management.
Pillar Two offers a unique opportunity to modernise your tax systems, enhance digital capabilities, and elevate the strategic role of your tax team. The report outlines how to develop a clear roadmap for change, optimise data management, and upskill your team to leverage new technologies effectively.
For further information or to discuss how PwC can support your organisation in navigating Pillar Two, please contact us.
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