Pillar Two Challenges: Book Accounting and GloBE Income Calculation
International Tax Team video series – Overview of the book accounting considerations when calculating GloBE income under Pillar Two (part 4)
May 5, 2023 | The underlying calculations for the Pillar Two global minimum tax on GloBE income rely on book accounting numbers. With Pillar Two implementation slated for January 1, 2024, in a number of countries, understanding the book accounting challenges is critical.
In this video, Kevin Brogan, International Tax principal with the KPMG Washington National Tax practice, sets up a discussion with KPMG Accounting Advisory Services professionals Tony Burzinski and Titus Ball on important book accounting considerations. Specifically, Tony and Titus provide insights on:
- The impact of Pillar Two on the finance department and potential ways to limit that impact
- The accounting net income book and tax related adjustments needed to determine GloBE income.
This 17-minute video was recorded on April 21, 2023.
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