{"id":6121,"date":"2026-05-06T11:15:30","date_gmt":"2026-05-06T01:15:30","guid":{"rendered":"https:\/\/insight.thomsonreuters.com.au\/business\/?p=6121"},"modified":"2026-05-26T11:00:34","modified_gmt":"2026-05-26T01:00:34","slug":"global-minimum-tax-and-the-data-management-dilemma","status":"publish","type":"post","link":"https:\/\/insight.thomsonreuters.com.au\/business\/posts\/global-minimum-tax-and-the-data-management-dilemma","title":{"rendered":"Global Minimum Tax and the data management dilemma"},"content":{"rendered":"\n<p>As we move through 2026, the&nbsp;Global Minimum Tax (GMT) regime, also known as GloBE or OECD BEPS 2.0 Pillar 2, has become firmly established in the global tax landscape. For the roughly 10,000 multinational companies affected worldwide, including those operating in Australia, GMT compliance is no longer a future concern. It\u2019s a present reality that demands sophisticated data management and reporting capabilities.<\/p>\n\n\n\n<nav class=\"jump-nav\" style=\"\n  background-color:#ffffff;\n  border-left:6px solid #d64000;\n  padding:20px 24px;\n  margin:32px 0;\n\">\n\n  <p style=\"\n    margin:0 0 10px 0;\n    line-height:1.5;\n    font-weight:700;\n    color:#123015;\n  \">\n    Jump to:\n  <\/p>\n\n  <ul style=\"\n    margin:0;\n    padding-left:18px;\n    color:#123015;\n    line-height:1.6;\n  \">\n    <li>\n      <a href=\"#What-GMT-is-and-why-data-matters\" style=\"color:#d64000;text-decoration:none;\">\n        What is GMT and why data matters\n      <\/a>\n    <\/li>\n    <li>\n      <a href=\"#What-are-the-solutions-for-global-minimum-tax-data-management\" style=\"color:#d64000;text-decoration:none;\">\n        What are the solutions for global minimum tax data management?\n      <\/a>\n    <\/li>\n    <li>\n      <a href=\"#How-to-build-your-GMT-data-readiness-checklist\" style=\"color:#d64000;text-decoration:none;\">\n        How to build your GMT data readiness checklist\n      <\/a>\n    <\/li>\n    <li>\n      <a href=\"#Whats-next-for-GMT-compliance\" style=\"color:#d64000;text-decoration:none;\">\n        What\u2019s next for GMT compliance\n      <\/a>\n    <\/li>\n  <\/ul>\n\n<\/nav>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"What-GMT-is-and-why-data-matters\">What is GMT and why data matters<\/h2>\n\n\n\n<p>GMT is an internationally agreed-upon minimum rate of tax on corporate income, established by the OECD to prevent a \u201crace to the bottom\u201d in national tax rates. Companies with \u20ac750M+ in revenues must pay a top-up tax if income in any jurisdiction is taxed below the 15% global minimum rate.<\/p>\n\n\n\n<p>While the policy intent is straightforward, the operational impact is anything but. GMT rules force companies to collect, analyse, and report on significantly more data than ever before. The legislation expands the scope of data required across the organisation, including organsational data (such as stock compensation and pension expenses) and&nbsp;<a href=\"https:\/\/insight.thomsonreuters.com.au\/business\/resources\/resource\/managing-global-minimum-tax-across-data-reporting-and-risk?cid=7812438&amp;chl=na&amp;sfdccampaignid=701PA00000iNCc0YAG\" type=\"link\" id=\"https:\/\/insight.thomsonreuters.com.au\/business\/resources\/resource\/managing-global-minimum-tax-across-data-reporting-and-risk\">Pillar Two<\/a>\u2013specific data (including elections and carryforwards).<\/p>\n\n\n\n<p>The data challenge comes at a time when many corporate tax departments are already stretched thin.<\/p>\n\n\n\n<p>According to the&nbsp;<a href=\"https:\/\/insight.thomsonreuters.com.au\/business\/resources\/resource\/2025-state-of-the-corporate-tax-department?cid=7812438&amp;chl=na&amp;sfdccampaignid=701PA00000iNCc0YAG\">2025 Thomson Reuters State of the Corporate Tax Department<\/a>&nbsp;report:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>58% are under-resourced<\/li>\n\n\n\n<li>57% describe their technology posture as chaotic or reactive<\/li>\n\n\n\n<li>74% expect tax technology budgets to increase&nbsp;in the next three to five years<\/li>\n\n\n\n<li>Only 26% track metrics around tax technology success<\/li>\n<\/ul>\n\n\n\n<p>GMT compliance requires data to be gathered more frequently, from more business areas, in greater granularity, and on tighter timelines for regular calculations and filings. This work spans multiple tax rules: book tax, cash tax, cross-border, and local country requirements; where data is often fragmented and stored in inconsistent formats.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Where data management typically breaks down<\/h3>\n\n\n\n<p><strong>Disparate systems and formats<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Data scattered across spreadsheets, email, and&nbsp;multiple ERP systems<\/li>\n\n\n\n<li>Lack of standardised data formats across jurisdictions<\/li>\n\n\n\n<li>Manual processes that are error-prone and time-intensive<\/li>\n<\/ul>\n\n\n\n<p><strong>Resource and technology constraints<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Limited personnel with both tax and technology expertise<\/li>\n\n\n\n<li>Fewer than 10% of corporate tax professionals actively using AI technology<\/li>\n\n\n\n<li>Staggered systems that cannot support complex GMT calculations<\/li>\n\n\n\n<li>Insufficient time for strategic data governance planning<\/li>\n<\/ul>\n\n\n\n<p>Together, these challenges create bottlenecks that slow compliance, increase risk, and limit the tax team\u2019s ability to focus on strategic work. Addressing them requires a coordinated approach that combines technology, process, and governance improvements.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"What-are-the-solutions-for-global-minimum-tax-data-management\">What are the solutions for global minimum tax data management?<\/h2>\n\n\n\n<h3 class=\"wp-block-heading\">Use a single source of truth<\/h3>\n\n\n\n<p>Effective&nbsp;GMT data governance&nbsp;starts with centralising data from disparate systems into a single source of truth.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">An integrated technology ecosystem<\/h3>\n\n\n\n<p>An integrated tax technology stack helps connect data, calculations, and compliance workflows across the organisation. For example, Thomson Reuters ONESOURCE offers connected solutions that support GMT compliance end to end:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/www.thomsonreuters.com.au\/en-au\/products\/onesource-workflow-manager-dataflow.html?cid=7812438&amp;chl=na&amp;sfdccampaignid=701PA00000iNCc0YAG\">ONESOURCE DataFlow<\/a>: Establishes a reliable data foundation<\/li>\n\n\n\n<li><a href=\"https:\/\/www.thomsonreuters.com.au\/en-au\/products\/global-minimum-tax.html?cid=7812438&amp;chl=na&amp;sfdccampaignid=701PA00000iNCc0YAG\">ONESOURCE\u2019s partnership with&nbsp;Orbitax<\/a>&nbsp;provides&nbsp;GMT-related capabilities that perform complex&nbsp;GloBE&nbsp;calculations and scenario&nbsp;modelling, and&nbsp;<strong>automates the preparation and filing of&nbsp;GloBE&nbsp;Information Returns (GIR)<\/strong>&nbsp;and local top-up tax returns.&nbsp;The partnership also helps automate&nbsp;CbC&nbsp;Reporting.&nbsp;CbC&nbsp;data is the critical input for the&nbsp;<strong>Transitional&nbsp;CbC&nbsp;Reporting Safe&nbsp;Harbor<\/strong><\/li>\n\n\n\n<li><a href=\"https:\/\/www.thomsonreuters.com.au\/en-au\/products\/onesource-tax-provision.html?cid=7812438&amp;chl=na&amp;sfdccampaignid=701PA00000iNCc0YAG\">ONESOURCE Tax Provision<\/a>: Incorporates GloBE impacts into financial reporting<\/li>\n\n\n\n<li><a href=\"https:\/\/www.thomsonreuters.com.au\/en-au\/products\/onesource-indirect-compliance.html?cid=7812438&amp;chl=na&amp;sfdccampaignid=701PA00000iNCc0YAG\" type=\"link\" id=\"https:\/\/www.thomsonreuters.com.au\/en-au\/products\/onesource-indirect-compliance.html\">ONESOURCE Indirect Compliance<\/a>: Manages local country indirect tax compliance<\/li>\n<\/ul>\n\n\n\n<p>This integrated approach helps automate workflows, establishes&nbsp;seamless cross platform data connectivity&nbsp;and&nbsp;minimise errors, and free tax professionals to focus on strategic analysis and risk mitigation.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"How-to-build-your-GMT-data-readiness-checklist\">How to build your GMT data readiness checklist<\/h2>\n\n\n\n<p>A phased approach allows organisations to make near-term progress while laying the foundation for long-term compliance and scalability.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Immediate\/foundational actions (0\u20133 months)<\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Audit current data sources and identify gaps<\/li>\n\n\n\n<li>Map data flows across jurisdictions<\/li>\n\n\n\n<li>Assess current technology stack capabilities<\/li>\n\n\n\n<li>Identify key stakeholders and data owners<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\">Short-term implementation (3\u201312 months)<\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Implement or scale a centralised data management system<\/li>\n\n\n\n<li>Deploy GMT-specific calculation tools<\/li>\n\n\n\n<li>Establish data governance protocols<\/li>\n\n\n\n<li>Train the tax team on new processes and technologies<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\">Long-term optimisation (12+ months)<\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Automate routine data collection and validation<\/li>\n\n\n\n<li>Integrate GMT processes with the broader tax technology stack<\/li>\n\n\n\n<li>Develop predictive analytics capabilities<\/li>\n\n\n\n<li>Continuously monitor and improve data quality<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"Whats-next-for-GMT-compliance\">What\u2019s next for GMT compliance<\/h2>\n\n\n\n<p><a href=\"https:\/\/insight.thomsonreuters.com.au\/business\/resources\/resource\/2025-state-of-the-corporate-tax-department?cid=7812438&amp;chl=na&amp;sfdccampaignid=701PA00000iNCc0YAG\" type=\"link\" id=\"https:\/\/insight.thomsonreuters.com.au\/business\/resources\/resource\/2025-state-of-the-corporate-tax-department\">88% of corporate tax professionals believe AI will be central to their daily workflow&nbsp;within the next five years. <\/a>As tax functions move toward AI-enabled processes, success will depend on high-quality data, new skills development, updated governance frameworks, and tight integration between AI tools and GMT-specific requirements.<\/p>\n\n\n\n<p>In parallel, 74% of respondents prioritise automating tax processes, with a focus on:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Automated data collection from multiple sources<\/li>\n\n\n\n<li>Standardised calculation engines for GMT compliance<\/li>\n\n\n\n<li>Real-time reporting and monitoring capabilities<\/li>\n\n\n\n<li>Integration with existing ERP and financial systems<\/li>\n<\/ul>\n\n\n\n<p>To support this shift, many organisations are deploying sophisticated technology solutions, such as <a href=\"https:\/\/www.thomsonreuters.com.au\/en-au\/products\/global-minimum-tax.html?cid=7812438&amp;chl=na&amp;sfdccampaignid=701PA00000iNCc0YAG\" type=\"link\" id=\"https:\/\/www.thomsonreuters.com.au\/en-au\/products\/global-minimum-tax.html\">Orbitax Global Minimum Tax<\/a>, to automate and standardise workflows and bring greater clarity to the impact of GMT.<\/p>\n\n\n\n<div style=\"\n  background-color:#ffffff;\n  border-left:6px solid #d64000;\n  padding:20px 24px;\n  margin:32px 0;\n  font-family:Arial,Helvetica,sans-serif;\n\">\n\n  <p style=\"\n    margin:0 0 6px 0;\n    font-size:22px;\n    line-height:1.25;\n    font-weight:700;\n    color:#123015;\n  \">\n    Regulatory change isn\u2019t a single deadline. \n    <span style=\"color:#d64000;\">It\u2019s a preparation process.<\/span>\n  <\/p>\n\n  <p style=\"\n    margin:0;\n    font-size:14px;\n    line-height:1.5;\n    color:#123015;\n  \">\n    If you\u2019re working through Pillar Two data, calculations, and controls, and want confidence that first filings are defensible and repeatable, we can help. \n    <a href=\"https:\/\/www.thomsonreuters.com.au\/en-au\/products\/global-minimum-tax.html\"\n       target=\"_blank\" rel=\"noopener\"\n       style=\"color:#d64000;font-weight:600;text-decoration:none;\">\n      See how Thomson Reuters supports mandate\u2011ready execution <span style=\"font-weight:800;font-size:18px;line-height:1;\">\u2192<\/span>\n    <\/a>\n  <\/p>\n\n<\/div>\n\n\n\n<p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The OECD\u2019s global minimum tax is transforming international tax compliance, but it\u2019s also exposing serious data gaps for multinational organisations. This article explores why Pillar Two dramatically increases data complexity and why tax and finance teams need more connected, reliable data models to manage risk and reporting obligations.<\/p>\n","protected":false},"author":5,"featured_media":6158,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1315,687],"tags":[1307,1329,1376,990],"insight_job_role":[713,805,719,808,882],"insight_practice_area":[1294,948],"class_list":["entry","author-traus","has-excerpt","post-6121","post","type-post","status-publish","format-standard","has-post-thumbnail","category-global-minimum-tax","category-global-reporting-compliance","tag-global-minimum-tax","tag-gmt","tag-tax-data","tag-tax-provision","insight_job_role-chief-financial-officer","insight_job_role-chief-tax-officer","insight_job_role-finance-director","insight_job_role-head-of-tax","insight_job_role-tax-manager-director","insight_practice_area-tax-and-accounting","insight_practice_area-tax-law","hentry"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - 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