EY refers to the global organization, and may refer to one or more, of the member firms of Ernst & Young Global Limited, each of which is a separate legal entity. Ernst & Young Global Limited, a UK company limited by guarantee, does not provide services to clients.
Recent Searches
BEPS 2.0
BEPS 2.0 rules dramatically change the international tax landscape, potentially bringing reporting and compliance challenges to every industry.
Being prepared for global minimum taxes
MNEs need to keep a close eye on developments in relevant jurisdictions as they implement global minimum tax rules into their domestic laws. Most large organizations are only at the start of their global minimum tax journey. Organizations will need to find ways to calculate their new taxes, evaluate the impact on their financial statements, and report to the relevant tax authorities around the world. They will also need to adapt their internal processes and systems to manage the new computations and data, to calculate their global minimum tax liabilities and satisfy reporting obligations.
Government tax policymakers around the world are collaborating on proposals for significant changes to international tax rules in light of the globalization and digitalization of the economy. The G20/OECD project on addressing the taxation of digital economy began in 2019, building on the final reports issued in 2015 in the earlier project on BEPS.
The current project, referred to as BEPS 2.0, has two elements:
- Pillar One on new nexus and profit allocation rules with the objective of assigning a greater share of taxing rights over global business income to market countries, and
- Pillar Two rules on new global minimum tax, approved in December 2021 by 141 jurisdictions participating in the BEPS 2.0 project.
The Pillar Two Model Rules provide for a global minimum tax of 15% applicable to multinational enterprise (MNE) groups with a global turnover of €750 million or more.
What EY can do for you
EY’s integrated global team of local and international tax, tax compliance, and tax technology professionals can help you navigate the complex rules and assess potential impacts. EY teams can also work with you to develop a robust, actionable plan to be ready when the rules are enacted and effective.
End-to-end support for a major tax challenge
Businesses affected by Pillar Two may have already started to assess the impact on their future effective tax rates (ETR), but this is just the beginning. Here is a snapshot of the four steps in the path toward managing global minimum taxes – most organizations are only at step one.
Developing a bespoke action plan
Once a multinational organization conducts a high-level impact assessment, an actionable plan for global minimum taxes in terms of compliance and management will need to be established. But as the clock is ticking, any challenges should be diagnosed as early as possible, so that they can be resolved before implementation.
Implementing the plan
Being prepared for Pillar Two will require significant cross-functional coordination involving tax, accounting, legal, systems/IT, and business stakeholders.
The complexity around global minimum tax rules can be an overwhelming proposition for some, and a major challenge for all. By working with EY teams, your organization can manage this complexity and be compliant with applicable rules, balancing cost, service, tax controversy, and tax risk.
The team
Our latest thinking
Three strategies to prepare tax teams for 2025 year-end
What tax teams should consider as they juggle the complexities of year-end tax accounting and compliance while preparing for the next calendar year.
How to alleviate BEPS 2.0 Pillar Two data challenges
Advanced data aggregation tools can help with BEPS 2.0 Pillar Two compliance. Read our insights to stay compliant and reduce risks. Learn more.
Six steps to prepare for the operational impact of Pillar Two
Get ahead of operational and technology considerations for BEPS 2.0 Pillar Two reporting. Understand what to assess, plan, operate and monitor. Learn more.
How a decade of transparency forever changed the tax world
A decade of increased tax transparency has changed businesses, who will need more data management to keep up with new developments. Learn more.
How can tax and finance leaders build agile functions that thrive?
Tax and finance functions need to create agility and facilitate continuous transformation to deal with constant disruption and leverage AI.
Why public disclosure will require renewed focus on CbC reporting
Public disclosure of country-by-country tax data is set to create new risks for affected multinationals. Learn more.
How Microsoft Power Platform can help address new BEPS 2.0 requirements
In this webcast, panelists discuss the minimum taxes data and technology challenge and the role of Microsoft technologies. Learn more.
How tax accounting teams should prepare for BEPS changes
Why tax accounting teams need to prepare for the implementation of BEPS, and how the obstacles may vary from country to country. Learn more.
Five steps tax accounting teams can take for BEPS 2.0
With BEPS 2.0 due to come into force in late 2023/early 2024, tax accounting teams prepare for Pillar Two rules on global minimum taxation. Learn more.
How a global minimum tax will affect sustainability tax incentives
Multinationals and jurisdictions may need to rethink their sustainability tax incentives if countries adopt 15% global minimum tax rules. Learn more.
Why BEPS 2.0 needs consistency, coordination and certainty
The G20 must lead – and consider input from businesses – to make tax transformation workable for all. Learn more.
How economic, geopolitical and technological ripples impact the tax agenda
In this webcast, panelists discuss how markets and countries will ride out the economic, geopolitical and technological disruption. Learn more.
Watch latest webcasts on BEPS
How to address the BEPS 2.0 Pillar Two data and technology challenge
In this webcast, panelists discuss the minimum taxes data and technology challenge and the role of SAP business applications. Learn more.
Implementation of BEPS 2.0 Pillar Two in the European Union
In this webcast, panelists discuss implementation of the EU Minimum Tax Directive and potential implications for impacted businesses.
BEPS 2.0 developments: What to watch out for in country implementation
In this webcast, panelists discuss the dynamics of the BEPS 2.0 project, as well as the status and outlook for Pillars One and Two. Learn more.
Evolution of tax in the European Union
In this webcast, panelists discuss the changing EU tax policy landscape and potential implications for businesses.
What companies should know about the latest BEPS 2.0 dynamics
In this webcast, panelists discuss the evolution of Pillars One and Two. Learn more.
BEPS 2.0: Implications of Pillar Two for businesses
In this webcast, panelists discuss BEPS 2.0 developments. Learn more.
In this webcast, panelists discuss the latest developments on global minimum tax rules under Pillar Two of the OECD/G20 BEPS 2.0 project. Learn more.