BEPS Pillar Two is here. Are you ready to file ahead of the deadline?
Pillar Two introduces new compliance obligations for large multinational corporations. In the UK, multinational corporations that are in scope must register, and the filing member must submit a GloBE Information Return (GIR), or an Overseas Return Notification (ORN), where the GIR is filed elsewhere, alongside a UK Pillar 2 Self Assessment return for each in-scope period—even if no top-up tax is expected.
UK deadlines:
- Register: within 6 months after the end of your first accounting period.
- File (first period): within 18 months after year end (then 15 months for subsequent periods).
Important to note about safe harbour:
Qualifying for transitional safe harbour can reduce the compliance burden, but it does not remove the requirement to registerandfile.