Prepare for the new FY23 IFRS disclosure on Pillar 2 with TaxModel’s Pillar 2 Impact Analysis solution. Manage your FY23 IFRS reporting obligations and remain compliant.
Pillar 2 Impact Analysis Solution
With the implementation of OECD’s Pillar 2, the IFRS Board requires multinational groups to prepare for Pillar 2 disclosures (under IAS12) for fiscal years starting on or after the 1st of January 2023.
TaxModel’s Pillar 2 Impact Analysis Solution assists multinational groups in meeting the FY23 IFRS disclosure requirements. The solution helps deliver content for the IFRS / IAS12 disclosures for your FY23 year-end close.
IFRS & IAS12 requires first Pillar 2 reporting over FY23
TaxModel’s Pillar 2 Impact Analysis Solution is carefully designed based on the reviews and validations by our clients and their advisors, as well as our understanding of the latest publications by the OECD Pillar 2 GloBE Regulations, the GloBE Information Return, Transitional Safe Harbour rules, and the Administrative Guidance.
The Pillar 2 Impact Analysis Solution covers the core flow of the Transitional Safe Harbour Tests and the Top-Up Tax Calculations to meet the first IFRS Pillar 2 reporting requirement concerning FY23.
Register for our upcoming webinar: How to prepare for FY23 IFRS & IAS12 disclosure on Pillar 2?
Pillar 2 Impact Analysis Solution | Features
- GloBE Income Calculation, Covered Taxes Calculation and Top-up-Tax Calculation with an exhaustive overview of all possible adjustments and article references
- Transitional and Permanent Safe Harbour Tests
- Entity List for bulk import in Pillar 2 Impact Analysis Solution
- Automated build of jurisdictional packs by Sub-Group triggered by Entity List
- Exhaustive election overview at Jurisdictional and Constituent Entity level
- Substance-Based Income Exclusion (SBIE) Schedule
- Exhaustive reference to all possible Pillar 2 data sources
Pillar 2 Impact Analysis
- Set up reporting entities / constituent entities Pillar 2 Impact Analysis Solution (based on customers providing list of all legal entities and permanent establishments, and legal ownership chart group showing ownership (percentages)
- Link Pillar 2 Impact Analysis Solution to customers’ Excel (based/exported) tax reporting packs (i.e., tax provision) of all reporting units as per IFRS
- Link Pillar 2 Impact Analysis Solution to Excel-based IFRS consolidated trial balances (P&L and balance sheet) of all reporting units, including the opening and closing positions of tangible assets plus payroll costs
- Full integration with multinational group’s financial accounting systems
*Additional discounts may apply when purchased in combination with our transfer pricing and DAC6 solutions
*The set up is on an “As-Is” basis, i.e., no analysis or opinion is provided on the quality and/or reconciliation of the actual numbers.
*In case a full integration is desired through API or exports/imports from your financial accounting systems, such effort is to be scoped and quoted separately, as such effort is unique/bespoke for every client.
Register for Pillar 2 Impact Analysis Solution and schedule a meeting with our Pillar 2 expert!
Pillar 2 Impact Analysis Support
Do you need expert help with your Pillar 2 Impact Analysis?
TaxModel’s comprehensive Pillar 2 Impact Analysis Support can help you. This includes assessing your current state tax provisioning process and, if and to the extent needed, assist with developing a solid tax accounting process. As part of our Pillar 2 Impact Analysis, we will advise you and, if interested, offer a permanent solution for future Pillar 2 compliance during 2024.