In the tax world of today ‘Tax governance’ is a well-known concept, but it also raises a lot of questions. What means tax governance exactly? What does it mean for my organization? And what should I do regarding tax governance? To answer these questions a good understanding of your tax processes and legislation is necessary.
On 1 June 2022 Taxvibes invited tax experts from a wide range of multinationals to participate in a round table meeting on Pillar Two in The Hague. In this article the key takeaways of the meeting are presented.
Starting 1 January 2023 multinationals are required to make all new calculations for Pillar 2. This ambitious timeline for implementation combined with new complex calculations require companies to take quick action. We developed a Pillar 2 model to make the calculations and assess the impact of the new rules.
Recently a proposal for public Country-by-Country Reporting (CbCR) has been endorsed by EU institutions opening the way for formal approval by the European Parliament.