PWC Webinar: Looking at the impact of the Pillar Two 15% minimum effective tax rate Model Rules
On 20 December 2021, the Inclusive Framework (IF) released the Model Rules to give effect to the Pillar Two 15% global minimum tax proposal (the income inclusion rule (IIR) and undertaxed payments rule (UTPR)). The OECD also issued a related summary and a fact sheet explaining how the Model Rules work. Our news alert gives our perspective on the Model Rules.
For businesses like yours operating in the Middle East, there is no doubt that these rules and their expected implementation (including the potential impact to existing domestic tax frameworks) are top of mind. Given the complexity of the new rules, you need to plan for a significant increase in your compliance requirements, even if Pillar Two does not have a material impact on the ETR or on the structure of your group.
Join our local and global international tax team on 18 January, as we explore the Model Rules in more detail and simplify the complexity of the rules through sharing our global experience, whilst focusing on how best you can comply with them given the current time constraints.
During the session we will focus on how you can best:
• Assess the applicability and impact of the Model Rules on your organisation (including with respect to potential domestic legislative changes);
• Prepare your resources (teams and systems) for the additional compliance obligation related to the Model Rules; and
• Communicate the effects of these changes to your stakeholders.