Master OECD’s BEPS Pillar 2 Regulations with Wolters Kluwer’s CCH Tagetik

May 15, 2024 | Regulatory Compliance

Staying compliant with the OECD’s BEPS Pillar 2 is more crucial than ever as regulations evolve. Time is running out for multinational corporations to cope with the OECD’s BEPS Pillar 2 model rules. This directive strikes at the centre of the financial close and consolidation process. Finance and tax departments should assess material impacts and address data collection needs to meet reporting requirements on time. That’s why we’re proud to offer Wolters Kluwer’s CCH® Tagetik Global Minimum Tax expert solution, an essential tool for navigating these changes with confidence and precision.

BEPS Pillar 2 Regulations

Understanding BEPS Pillar 2

The CCH® Tagetik solution demystifies the complexities of BEPS Pillar 2, providing clear and straightforward guidance. This makes understanding the implications and requirements of these regulations accessible, ensuring you are well-prepared to tackle compliance with clarity.

Stay Informed and Ahead

The landscape of international tax is ever-changing. With Wolters Kluwer’s CCH® Tagetik solution, you receive the most up-to-date information on the adoption and implementation of Pillar 2. This continuous insight helps you make informed strategic decisions, keeping your business compliant and competitive.

Addressing Compliance Challenges

CCH® Tagetik Global Minimum Tax eases the transition with an end-to-end BEPS Pillar Two process. It is a pre-built expert solution that streamlines BEPS Pillar 2 data collection, calculations, reporting, CbCR, planning, and performance management according to OECD guidance. With a workflow purpose-built for finance-tax alignment, it harmonises the new tax requirements with both local financial close and group consolidation processes.

The CCH® Tagetik solution tackles the challenges of tight deadlines and the need for data harmonisation head-on, offering advanced features that streamline tax and finance data management. Enhancing your ability to adapt to new regulations empowers your business to meet compliance demands efficiently.

Empower Your Teams and Streamline Processes

Free teams from the burden of reporting requirements as Pillar 2 obligations strain tax teams that rely on isolated tax systems. CCH® Tagetik’s top-down approach connects tax to consolidation, facilitating tax reporting enterprise-wide. Automatically collect, aggregate, and store data; easily map Pillar 2 calculation objects; align tax-finance teams and accelerate the financial close; automatically calculate top-up tax; allocate tax amounts to impacted entities; use tax insights to guide business strategy.

Enhanced Planning and Reporting Capabilities

Adhering to BEPS Pillar 2 means more than a tax system upgrade; it involves modifying internal processes to reflect your tax position in financial statements accurately. CCH Tagetik equips you with the planning intelligence to simulate tax impacts and adjust plans accordingly. Report CbCR & Pillar 2 data, enhance collaboration with back & forth posting, be audit-ready with a log of past versions and processes, configure workflows, responsibilities, and deadlines, and test cash, ETR, and SH scenarios with simulations.

Transform Your Tax Management Processes

Embrace the change with technology that fits seamlessly into your existing operations, minimising disruption and maximising efficiency. The CCH Tagetik solution ensures that you’re not just responding to new regulations but thriving under them.

Act Today

Don’t wait to enhance your tax compliance strategy. Download the full report on the CCH® Tagetik Global Minimum Tax expert solution now and start transforming your approach to international tax regulations. Contact us to discover how this powerful tool can benefit your business.

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