Pillar 2: A worldwide tax obligation
Pillar 2 tax law became effective Jan. 1 in the European Union and many other countries, and the new rules are generally applicable to multinationals with a turnover of more than 750 million euros. These laws govern both tax levies and documentation obligations for companies if their effective tax rate using Pillar 2 methodology within a jurisdiction is below the 15% minimum tax.
In total, 138 countries worldwide are expected to eventually implement Pillar 2 in their national legislation. Are you ready?
Where Pillar 2 is in effect
We have compiled an overview of the implementation status for a number of countries, to find out more, hover over the country on the map to explore further:
How Grant Thornton can help you implement Pillar 2
Grant Thornton is an international network with global Pillar 2 specialists available to assist you with both the implementation of Pillar 2 and with all your Pillar 2 compliance obligations.
To learn more on how we can assist you in preparing for Pillar 2, please hover on each card.
Our approach to navigating Pillar 2
Depending on your needs, Grant Thornton can guide you through the full process of becoming Pillar 2 compliant, or we can tailor our assistance to your specific needs at each individual step in the process. To help create a complete picture of Pillar 2 requirements and file the relevant returns, Grant Thornton has identified a seven-step approach.
- Overview of Pillar 2 1
- Exemptions and exclusions 2
- Safe harbor and penalty relief 3
- Data gathering 4
- Calculation and documentation 5
- Who is collecting? 6
- Filing returns 7
Effect on group entities
The main rules of Pillar 2
Insight into the legislation and top-up tax through a separate tax system
Our Pillar 2 specialists can assist with:
- Determination of constituent entities
- Determination of consolidated turnover
- Determination of Ultimate Parent Entity and Intermediate Parent Entities (as applicable)
- Dashboard tooling
- Checking annual reporting requirements
Connect with our International Tax leaders
David E. Sites
National Managing Principal,
Washington National Tax Office and International Tax Solutions
Grant Thornton Advisors LLC
David leads the firm's International Tax practice, which focuses on global tax planning, cross border merger and acquisition structuring, and working with global organizations in a variety of other international tax areas.
Washington DC, Washington DC
Industries
- Manufacturing, Transportation and Distribution
- Technology, Media and Telecommunications
- Retail and Consumer Brands
Service Experience
- Tax Services
- International Tax
Cory Perry
Washington National Tax Office
Principal, Tax Services
Grant Thornton Advisors LLC
Washington DC, Washington DC
Industries
- Technology, Media and Telecommunications
- Manufacturing, Transportation and Distribution
- Private Equity
Service Experience
- Tax Services
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