Question 1

What is OECD Pillar Two and why is compliance important?

Accepted Answer

OECD Pillar Two, also known as the Global Anti-Base Erosion (GloBE) rules, aims to ensure large multinational enterprises pay a minimum level of tax on the income arising in each of the jurisdictions where they do business. Compliance is crucial to avoid penalties, maintain a positive corporate reputation, and navigate the evolving international tax landscape.

Question 2

How does Orbitax Global Minimum Tax help with data collection?

Accepted Answer

Orbitax Global Minimum Tax simplifies data collection by offering 90+ API connectors and various data import methods, allowing you to seamlessly integrate financial and transactional data from diverse sources and formats into a centralized platform.

Question 3

Can I simulate the impact of changes to my business on my Pillar Two tax liability?

Accepted Answer

Yes, Orbitax Global Minimum Tax allows you to run simulations on entity and transaction changes, enabling you to proactively assess the impact on your global minimum top-up tax liability and optimize your tax strategy.

Question 4

Does Orbitax Global Minimum Tax support the filing of GloBE Information Returns?

Accepted Answer

Absolutely. The software generates and e-files GloBE Information Returns and other supplemental returns in relevant jurisdictions, streamlining the reporting process and ensuring compliance with local requirements.

Question 5

What level of expertise is required to use Orbitax Global Minimum Tax?

Accepted Answer

While a foundational understanding of international tax principles is helpful, Orbitax Global Minimum Tax is designed to automate complex calculations and simplify the compliance process, reducing the need for extensive manual research and expertise.

Question 6

How does the integration with Thomson Reuters ONESOURCE Tax Provision work?

Accepted Answer

Orbitax Global Minimum Tax seamlessly integrates with Thomson Reuters ONESOURCE Tax Provision via an API connector, allowing for a streamlined workflow between tax provision and Pillar Two compliance calculations.

Question 7

What kind of country-specific support does the software offer?

Accepted Answer

Orbitax Global Minimum Tax includes built-in country-specific calculators and access to material related to Pillar Two rules issued by the OECD, country-specific laws, and EU directives, ensuring accurate calculations and up-to-date compliance.

Orbitax Global Minimum Tax

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