Global Minimum Taxation
Global minimum tax compliance across five jurisdictions. Ideas in Seeds assessed regulatory risk, built the data and technology strategy, and guided execution to compliant closure with no top up tax exposure.
PHASE 1: ASSESSMENT OF REGULATORY AND INTERNAL REQUIREMENTS
Understand pillar two rules and guidance.
Work with tax and finance under the internal data landscape.
Engage and onboard a vendor to help navigate the calculations across all five jurisdictions.
Mapped internal stakeholders across all five jurisdictions
PHASE 2: DEVELOP STRATEGIC AND PROTOTYPING SOLUTIONS
Worked with the tax team to calculate and develop a compliance strategy, which includes GloBE income, covered taxes, Deferred adjustments calculation, and top-up tax allocation.
Developed Data governance, technology implementation roadmap, stakeholder, and vendor engagement.
Developed Risk mitigation and contingency strategy.
PHASE 3: PROTOTYPING AND PLANNING
Helped the team navigate rapid prototyping based on available data to calculate top-up tax for a selected jurisdiction.
Assessed technology solution POC for automation of calculation.
Managed overall budget for execution of all phases.
PHASE 4: EXECUTION AND MONITORING
Continuous strategic sessions to close gaps in GLoBE data collection.
Strategic vendor collaboration to optimize monthly activities.
Developed a control process to support regulatory reporting submission.
Continued Regulatory Watch.
Reporting and submission of the data collection and calculation cycle.
CLOSURE
Lessons learned documentation
Assessment of all enterprise documentation
Delivered all five. jurisdiction with the revelation of no top-up tax needed or needed.
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