The BEPS Pillar Two Readiness Index is a quarterly pulse check for gauging readiness across global tax jurisdictions subject to BEPS Pillar Two measures. This survey seeks to provide valuable insights into the implementation of international tax policies and their impact on businesses across the globe. The insights gained from the Wolters Kluwer BEPS Pillar Two Readiness Index are aimed to better guide impacted organisations through the complexities of Pillar Two with valuable information that aids in their strategic planning and decision-making around BEPS Pillar Two obligations.
This current quarterly survey was conducted from April to June 2024 and synthesises insights from 87 participants, representing a global cross-section of organisations that meet Pillar Two reporting requirements.
Sentiments and concerns:
- Confidence in tax technology and data systems has dropped sharply, with 0% very confident and only 5% confident in their current technology capabilities to handle BEPS Pillar Two reporting requirements, down from 5% and 29%, respectively.
- Legislative uncertainty has moved from first to third place as a top challenge, with global governments beginning to provide clearer local rules and legislation.
In summary, the comparison of data from the previous quarters survey shows a positive shift in sentiment and movement towards actively preparing for BEPS Pillar Two.
As the effective date for BEPS Pillar Two approaches, it is crucial for MNEs to accelerate their preparation efforts. While significant challenges remain, proactive planning, strategic investments in technology, and enhanced global collaboration will be key to achieving compliance. The insights from this report provide a guide for organisations to navigate the complexities of BEPS Pillar Two and capitalise on the opportunities it presents. Download the full report to discover the priorities, sentiments, opportunities, and challenges faced by multinational organisations as they progress in their Pillar Two readiness journey.