Pillar Two and IT systems

Pillar Two is once again on the agenda; in this episode with a
focus on IT systems. Arne Schnitger and Christian Kaeser talk with
Douglas McHoney (International Tax Services Global Leader, PwC US)
and Navjot Singh Kalra (PwC Germany). Douglas gives a global
overview about developments in selected countries. Taxpayers have
to observe which elements of Pillar Two will be implemented
depending on the jurisdictions where they operate. They discuss the
big challenge of data collection in connection with ERP systems and
tax data lakes which should be flexible and future-proof. One
relevant aspect is the possibility of tracking the attributes
necessary. Finally they talk about filing requirements with regard
to the GloBE Information Return (GIR) and the Qualified Domestic
Minimum Top-up Tax (QDMTT) and the importance of safe harbours.