Webcast overview
On June 28, 2025, the G7, comprising of Canada, France, Germany, Italy, Japan, the United Kingdom, and the United States, released a statement which outlines a shared understanding of a “side-by-side” solution to US concerns regarding Pillar Two.
The G7 statement is a welcome development for US multinationals but leaves a lot of unanswered questions. It provides no certainty on when the changes it proposes to the application of Pillar Two to US-parented groups will be enacted in countries’ national laws, creating uncertainty for businesses about how they should be approaching Pillar Two from a financial reporting and compliance perspective.
During this webcast, KPMG professionals will dive into and discuss the implications of the G7 Statement from a 2024/2025 Pillar Two compliance and financial reporting perspective. The webcast will highlight a variety of considerations US-based businesses should think about now when preparing for Pillar Two.
Background: The Tax Policy Trifecta
Tax executives are facing three significant disruptors coming together at the same time – understanding and implementing the recently enacted bill commonly known as the One Big Beautiful Bill, the implementation of the OECD’s global tax deal, and ongoing regulatory and executive action changes. The challenges and opportunities from these three disruptors, what KPMG is referring to as the ‘Tax Policy Trifecta’, are happening at the same time as a technology revolution with advanced tools like GenAI playing a role in how organizations can respond to change.
