Evolving Perspectives: Pillar Two in Review

It has been more than three months since Pillar Two started in the beginning of 2024. As stakeholders, including in-scope MNE groups, tax authorities, and advisors, diligently gear up to embrace Pillar Two, the team in KPMG in Singapore find ourselves deeply immersed in assisting our clients with various facets of this preparatory journey. As we progress, we discover an array of intriguing and challenging Pillar Two issues across diverse sectors, and we want to share these practical insights with you.

Our session will include the following key highlights:

• Exploring Pillar Two’s interplay with domestic tax regulations and identifying potential gaps susceptible to double taxation and uncertainty
• Navigating sector-specific hurdles and nuances across financial services, asset management, real estate, shipping, technology, consumer goods, among others, during the implementation phase
• Delving into the intricacies of the Refundable Investment Credits introduced in the Singapore Budget 2024, dissecting the key components of the most competitive Qualified Refundable Tax Credits
• Understanding how deferred taxes intricately influence Pillar Two's effective tax rate calculations, and unravelling the dynamics between FY 2024 tax reporting and Pillar Two top-up taxes

Join us for an engaging session as KPMG in Singapore shares the practical insights we have gained since the start of Pillar Two in 2024 that can help you in your implementation process. Please reach out to KPMG Events at events@kpmg.com.sg to indicate your interest in attending this event.