Global Minimum Tax

Global Minimum Tax Solution

Get ready for Pillar 2: Assess, Report, Comply and Forecast

Overview

The Orbitax Global Minimum Tax Solution addresses all OECD Pillar 2 calculations for reporting, GloBE Information Returns (GIR), transmission and planning based on local country implementation supported by the tax rules of more than 190 countries.

Calculate your transitional safe harbour exemptions, the global minimum top-up tax including the qualified domestic minimum top up tax (QDMTT), the income inclusion rule (IIR), the undertaxed payments rule (UTPR), and the subject to tax rule (STTR) with our Pillar 2 calculator.

Our Pillar Two software is cloud based, supports any form of data input and can integrate with your existing systems using next generation workflow technology to enable collaboration among internal and external stakeholders worldwide.

Pillar 2 Calculations

Automated Workflows Powered by E.A.T.

Tax Rules and Compliance for over 190 Countries

Connections with 90+ ERP & Tax Authority Systems

The BEPS 2.0 rules introduce a sea change to global corporate tax, resulting in an upheaval in international tax rules not seen for almost 100 years.

Assess

Perform a high-level assessment to identify entities, transactions and other business operations impacted by the OECD Pillar 2 rules, Subject to Tax Rule (STTR), and the Global Anti-Base Erosion Rules (GloBE).

Receive a Readiness Report with all the data points required to perform a full Pillar 2 calculation and populate the GloBE Information Return for entities that do not qualify for the Safe Harbour.

All this with just your CbC Report XML or latest US Tax Return XML.

View the brochure for more information or email us at info@orbitax.com

Report

The Orbitax GMT software has all the detailed STTR and GloBE calculation rules built into the Global Minimum Tax calculator with configurable options for worldwide data collection, including API connections to ERP systems and ONESOURCE Tax Provision, data survey tools, Pillar 2 top-up tax calculation and direct uploads of tax department workpapers.

Manage and automate the full end-to-end process with the Orbitax Executable Actions Tool (E.A.T.): a next gen workflow automation tool built into the Orbitax International Tax Platform (ITP).

Comply

Generate and transmit the GloBE Information Return (GIR) in all jurisdictions with Pillar Two filing obligations. The Orbitax GMT software leverages the functionality of the Orbitax Due Date Tracker to track worldwide Pillar 2 due dates, with one screen to monitor submissions made, accepted / rejected and resubmissions.

Forecast

The Orbitax GMT software allows you to complete multi-year forecast calculations by expanding your base year input with growth assumptions and other input changes. Forecast calculations can reflect what-if scenarios, law changes and other global minimum tax impacts.

The two pillars are estimated to levy a total of $275 billion in additional taxes annually on the ten thousand plus MNEs impacted by the rules.

Integrations & Connections

Integrated CbC Reporting & US Foreign Source Income calculations

Calculations, reporting, compliance and planning for Global Minimum Tax, Country-by-Country (CbC) Reporting and US Foreign Source Income (incl. GILTI, BEAT, FDII, Subpart F, Foreign Dividends, and US FTC) are powered by the Global Tax Calculator and fully integrated on the Orbitax International Tax Platform combining an extensive, trusted tax law database of 190+ countries with powerful calculation, reporting and workflow tools.

Example: Country-by-Country reports (CbCr) are completed in the CbC Compliance & Reporting solution as part of the Global Tax Calculator and can be used to determine the Pillar 2 safe harbours. US Subpart F and GILTI calculations completed in the Orbitax International Tax Calculator solution are also part of the Global Tax Calculator and can be fully leveraged for the Pillar 2 calculations.

Integrations & Connections

Other Connections

Orbitax Connect (powered by Microsoft Azure Data Factory) allows seamless integration with other systems through APIs. There are 90 out-of-the-box connections, and connections to other systems with APIs can be custom built based on your needs.

Integrations & Connections

Provision

Orbitax GMT software works with Thomson Reuters ONESOURCE Tax Provision (OTP) to leverage legal entity information, financial accounting net income, valuation allowance adjustments, current and deferred taxes and more.

All Pillar 2 calculations that impact book tax can be loaded to OTP to calculate a combined impact on effective tax rates.

Automate Each action in the workflow

1. Load Data

Entity Data
Transaction Data
GloBE Income
Covered Taxes
CbCr Safe Harbor Input
Additional Information

2. Calculate

GloBE Effective Tax Rates
STTR
Safe Harbor test
QDMTT
IIR
UTPR

3. Create Reports

Risk Assessment
Tax Provision Reports
Compliance Deadlines
Compliance Forms
Forecasting

4. Share & File

Tax Authorities
Third-Party Systems
ONESOURCE Tax Provision
Stakeholders
Advisors

And stay in control To keep up

GMT Calculation Templates

The Calculation templates are part of the Orbitax Global Tax Calculator and are maintained in an Excel-like format that can be viewed online or downloaded for local viewing in Excel. The templates are organized with separate areas for inputs, calculations and reports with a full audit trail available for all stakeholder interactions inside the template including review and sign-off.

Reports & Forms

The Orbitax Global Minimum Tax Solution will support all local country filing requirements (GloBE Information Returns) including e-filings where supported.

Get a complete report view in Microsoft Power BI. This includes multiple configurable visuals for viewing and presenting results summaries, scenario comparisons, and year-over-year changes.

Load Data

Load entity data, transaction data and financial data from any source - in any format.

Tax Data - Required tax data is automatically populated from the ITP database for different entities and cross-border transactions, including corporate tax rates, withholding tax rates, deductible percentages, and taxable percentages.

Integrate directly with other API-enabled systems

Automate the collection of data from individual contributors through Excel, PDF, and data surveys.

Data Transformation - Irrespective of the data format, once loaded in Orbitax GMT, data is converted into a common format (.qnr) and can be used throughout the Orbitax International Tax Platform.

Data Mapping – use the intuitive data mapping tool to connect the source data to the corresponding data fields in GMT

Next Gen Workflows with E.A.T.

A built-in workflow tool, the Orbitax Executable Actions Tool (E.A.T.), can automate tasks such as data collection, calculation, report generation, population of compliance forms, and final transmission to tax authorities.

E.A.T. provides total control of workflows customized according to different data needs, with visual review and tracking to easily make refinements as the workflow is deployed.

Share & File

The platform allows you to share or file with local tax authorities, connect to and transmit data to other software solutions, such as ONESOURCE Tax Provision, and provide reports and customized insights to others inside and outside your organization.

Powerful Tax Solutions

Tax Rules Engine

Collaboration Tools

Overview

Pillar 2 Calculations

Automated Workflows Powered by E.A.T.

Tax Rules and Compliance for over 190 Countries

Connections with 90+ ERP & Tax Authority Systems

The BEPS 2.0 rules introduce a sea change to global corporate tax, resulting in an upheaval in international tax rules not seen for almost 100 years.

The two pillars are estimated to levy a total of $275 billion in additional taxes annually on the ten thousand plus MNEs impacted by the rules.

1. Load Data

2. Calculate

3. Create Reports

4. Share & File

GMT Calculation Templates

Reports & Forms

Load Data

Next Gen Workflows with E.A.T.

Share & File

Orbitax is proudly working with

Contact Us

For demo requests, technical support, general enquiries and feedback, please send us a message. A member of the Orbitax Team will get back to you shortly.

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