In the International Tax environment, BEPS 2.0 implementation is imminent. As we await the final details on the implementation of BEPS 2.0 through 2022, there are several key ‘no regrets’ priority areas that tax leaders can focus on now to prepare:

  1. Carry out an evaluation - Is your business within scope and what are the overall impacts on your Effective Tax Rate (ETR)?
  2. Asses internal systems and new data requirements – ensure there are no information or process gaps
  3. What will you need to comply with the new complex measures? extra resource maybe required with c-suite buy-in and greater synergies between financial reporting teams.
  4. Robust monitoring and planning – Being able to react when new rules are implemented and what it means for each jurisdiction
  5. Disclosure of the impacts to investors and customers – Consider when to announce via annual reports or other communications.

Preparation now will be the key for smoother implementation later. If you require specific support with BEPS 2.0 and other areas of international tax, then please get in touch with the team.

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