With OECD Pillar Two rules now taking effect across multiple jurisdictions, Australian multinationals face immediate pressure to assess their exposure and prepare for new global minimum tax compliance obligations.
While the technical detail of Pillar Two can be complex, the practical challenge is clear: organisations need reliable data, clear governance, and systems that can support repeatable calculations and reporting across jurisdictions. To help tax and finance teams focus on what matters most, we’ve created a concise infographic outlining five practical actions you can take now to build Pillar Two readiness.
Five actions to support Pillar Two readiness
he infographic provides a high‑level view of the operational steps required to prepare for Pillar Two global minimum tax compliance:
- Assess your global footprint
Identify where Income Inclusion Rules (IIR), Undertaxed Profits Rules (UTPR) and Qualified Domestic Minimum Top‑Up Taxes (QDMTT) apply, and where effective tax rate (ETR) risk may arise. - Map and validate your data
Pillar Two calculations rely on consistent, jurisdiction‑level data across finance, tax, HR and payroll. Early gaps can significantly increase compliance risk. - Review technology readiness
Many organisations are finding existing systems were not designed for Pillar Two calculations, workflows or reporting requirements. - Strengthen internal governance
Clear ownership of data, controls, approvals and filing responsibilities is essential as compliance obligations expand. - Assess transitional safe harbours
Safe harbours can reduce early compliance effort, but only where data quality and reporting thresholds are met.
Together, these steps form a practical starting point for organisations navigating the global minimum tax regime.
Turning insight into action
Managing Global Minimum Tax requires more than technical knowledge. It requires control over data, confidence in reporting, and a clear view of risk across the organisation.
The infographic is designed as a quick reference, but effective Pillar Two preparation requires more than a checklist. Organisations that are progressing fastest are taking a coordinated approach across tax, finance and technology, building processes that can scale as rules evolve and additional jurisdictions implement the regime.
For deeper insight into how global tax policy is shifting, and how leading organisations are responding to the global minimum tax, Shifting Dynamics in Global Taxation provides broader context to support strategic decision‑making beyond initial compliance.
