In the previous two articles we looked at why acting now on Pillar 2 is so critical and why Pillar 2 should be built into new business models and operational transformation from the outset.
Drawing on our work with a wide range of MNEs worldwide, here are five actions businesses can take now to ease the path to implementation, avoid needless upheaval and strengthen competitiveness ahead:
Click on each action for details on the practical steps your business can take and the related benefits.
Implementing and adjusting to the biggest overhaul of international taxation for a generation will be difficult and risky. But there’s no need to make it any harder or riskier than it needs to be. The five actions we set out here provide an opportunity to future-proof the business operationally, reputationally and competitively.
For support on Pillar 2 implementation, contact your local Grant Thornton team, or one of the contributors below.
Those with the confidence, agility and knowhow to build operational and business model changes, required by Pillar 2 and other international tax changes, into their wider business strategy will increase resilience and minimise disruption when the changes happen.
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