Accounting for Pillar Two: More than a tax exercise
Cross-border Tax Talks
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Navigating Pillar 2: Accounting Complexities and Compliance
This chapter explores the intricacies of accounting for Pillar 2 liabilities within public multinationals, emphasizing the differences between US GAAP and IFRS standards. It examines the complexities introduced by new tax regulations, the need for detailed disclosures, and the implications of deferred taxes on financial statements. The discussion highlights the existing challenges for taxpayers in risk assessment and materiality considerations, as they adapt to evolving international accounting frameworks.
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