Overview of the GLoBE return | BetterTax

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Pillar2 & CbCR Excel Tool

Introduction

00 Watch this first! (17:34)
01 Overview of course (5:34)
02 Brief overview of Pillar 2 (5:52)
03 Overview Excel tool (11:08)
04 Course meetings (819:48)

Basic Excel skills

Tables, Xlookup, SumIfs, IndexAndMatch, Workbooks (21:11)

Excel tool

Excel tool

Doing the CbCR and CbCR safe harbours

Doing the CbCR (16:59)

Doing the required Pillar 2 data

Overview of the GLoBE return (28:28)
Deferred taxes under the P2 transition rules

Calculating Net GloBE income

1. Financial Accounting Net Income or Loss (9:28)
a. Net tax adjustments (9:36)
b. Excluded dividends (11:26)
c. Excluded Equity gains and losses (16:52)
g. Policy disallowed expenses
j. Accrued Pension Expense
q. Intragroup Financing Arrangements
u. CEs joining or leaving

Calculating Adjusted Covered Taxes

1. Aggregate Current tax expense
a. Covered Tax accrued as an expense
b. GloBE Loss Deferred Tax Asset
c. Uncertain tax positions prior years
f. Current tax excluded from GloBE Income
i. Uncertain tax positions current tax
k. Post-filing adjustments
l. Covered Taxes on Net Asset Gain or Loss
q. Total Deferred Tax Adjustment Amount

Calculating Deferred Tax Adjustment Amount

a. Deferred tax expense on excluded GloBE income
b. Deferred tax expense on Disallowed Accruals
c. Deferred tax expense on Unclaimed Accruals
m. CEs joining on leaving

Entity and jurisdictional elections

To be added

Overview of the GLoBE return

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Globe return and Excel tool - slides.pdf

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