Pillar Two spotlight series: Exploring accounting adjustments

Pillar Two spotlight series: Exploring accounting adjustments

Multinationals are amping up their tax and accounting efforts as they prepare for the added GloBE income and tax calculations, which is going to require tailoring their current tax processes to meet the requirements of the new tax regime. In the latest part of our series on Pillar Two, Jay Morris, Deloitte’s global leader of tax accounting and Krystle Kort from Deloitte’s Washington National Tax practice, discuss the ins and outs of global minimum tax calculations, including how to consider deferred taxes and the technology and process improvements companies might need to make to meet Pillar Two requirements:

One of Pillar Two’s complexities is that there isn’t a single statutory tax rate under the global rules, making it very difficult to determine an applicable tax rate to apply to a difference in financial accounting and globe income.

—Krystle Kort

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