The Impact of the Global Minimum Tax on Accounting

Questions have been raised about whether the globe top-up tax is in the scope of IX12 for consolidated and separate financial statements. In response to that, the ISB issued an exposure draft International Tax for Film Reform Pillar II models. The exposure draft is actually open for public comment through March 10, 2023. KPMG hopes to get this finalized before the end of June and apply it retrospectively.