Enhanced Tax and Pillar Two Automation

Tax Automation and Pillar Two Automation in Tax Reporting is enhanced for Add, Delete, Save, Show All Accounts, and Import. New capabilities are:

  • Global Rules are only editable at the Global level (disallowed at Domicile/Jurisdiction, Entity, and Entity Region levels) with the exception of Enabled/Disabled column.
  • Domicile/Jurisdiction Rules are only editable at the Domicile/Jurisdiction level (disallowed at Entity, and Entity Region levels) with the exception of Enabled/Disabled column.
  • Entity Rules are only editable at the Entity level (disallowed at Entity Region levels) with the exception of Enabled/Disabled column.
  • Tax Automation and Pillar Two Automation details are stored and viewable only for the primary entities. Shared entities will no longer be accessible or readable in the Tax Automation and Pillar Two Automation forms. Tax Automation and Pillar Two Automation rules which are stored in the primary entity are used to process all shared entities.
  • Add Tax Automation and Pillar Two Automation rule adds a new copy of the selective rule without affecting any other existing rules. Adding a rule when no rule is added in the metadata or adding a rule from the wrong level returns an error message in the job console.
  • Delete Tax Automation and Pillar Two Automation rule removes the selective rule and shifts any subsequent rules so that there are no gaps in the rule members. Also, deleting does not affect any other existing rules. Deleting a rule from the wrong level returns an error message in the job console.
  • Save Tax Automation and Pillar Two Automation rule modifies the existing rule and cascades all the columns of the rule including Enabled/Disabled column to the lower levels (Global cascades to Domicile/Jurisdiction, Entity, and Entity Regional; Domicile/Jurisdiction cascades to Entity and Entity Regional; and Entity cascades to Entity Regional). No other existing rules are affected.
  • Show all Accounts Tax Automation and Pillar Two Automation adds new accounts for all rules for given Scenario/Year/Period and does not affect any existing rules
  • Import Tax Automation and Pillar Two Automation rules return an error if the import files contain data imported to the wrong level. Only Enabled/Disabled column is allowed to be overridden at a lower level. If any wrong intersection exists in the load, the entire load will fail and an error is returned in Job console.
  • Import Tax Automation and Pillar Two Automation rules cascades all the columns excluding Enabled/Disabled to the lower levels (Global cascades to Domicile/Jurisdiction, Entity, and Entity Regional; Domicile/Jurisdiction cascades to Entity and Entity Regional; Entity cascades to Entity Regional). All rules for any Scenario, Year, and Period within the load file are affected by this cascading.
  • Forms that you have customized, do not get upgraded.  You have to restore the modified artifacts.

NOTE: If you are creating a custom form for configuring Tax Automation or Pillar Two, then you should attach the new rule Consol - Rule - TRCS_ApplyReadOnly to run after load rule. This rule is used to set information on the grid post load.

Modified Forms

The following forms are modified:

  • Forms: Tax Administration
    • Tax Automation Domicile
    • Tax Automation Domicile Reg
    • Tax Automation Entity
    • Tax Automation Entity All Reg
    • Tax Automation Entity Reg
  • Forms: Pillar Two Administration
    • TRCS_Pillar Two Covered Tax Entity Automation
    • TRCS_Pillar Two Covered Tax Jurisdiction Automation
    • TRCS_Pillar Two GloBE Income Entity Automation
    • TRCS_Pillar Two GloBE Income Jurisdiction Automation
    • TRCS_Pillar Two Other Accounts Entity Automation
    • TRCS_Pillar Two Other Accounts Jurisdiction Automation
    • TRCS_Pillar Two Safe Harbors Entity Automation
    • TRCS_Pillar Two Safe Harbors Jurisdiction Automation

Business Benefit: This new capability provides the best practices for configuration and ensures the integrity and control over Tax Automation and Pillar Two Automation rules.

Key Resources

Administering Tax Reporting: