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EY Global Tax Controversy Flash Newsletter (Issue 61) | Companies should begin Pillar Two preparations to prevent double
As more jurisdictions implement Pillar Two of the BEPS 2.0 project, programs and tools to manage and resolve potential disputes lag behind. Companies now have the information they need to assess where double taxation — and tax disputes — may occur and should begin preparations. Almost half — 48% — of the senior tax professionals responding to the 2023 EY Tax risk and controversy survey say that Pillar Two will result in more tax disputes, while even more — 55% — say it will increase their tax costs. Yet only 47% have increased their Pillar Two education efforts and only 38% have modeled its potential impacts. Local implementation of Pillar Two law will be here before we know it. The time to act is now.
Read more about Pillar Two readiness and the management of global tax controversy in the EY survey under Chapter 1 — Pillar Two is driving new risk areas Alert.
Additional information and links to past newsletters can be found in the attached PDF.