Configurable Source Period for Average Logic in Pillar Two GloBE Automation

In Tax Reporting, a new Automation Source Period column is added to all Pillar Two GloBE Automation forms. This allows users to select a source period other than the default period P12 of the prior year for Average logic impacting Substance Based Income Exclusion (“SBIE”) calculations. The user can select any source period including P13 (RTA).

Note: This new feature is available only for Pillar Two GloBE Automation forms and the Average rule.

Business Benefit: This new capability allows the use of period (P12) up until the prior year tax return is filed where it is desired to use data based on return filing (P13). This feature is used to automatically calculate the "Average" balance of Tangible assets for Pillar Two Substance based Income exclusion purposes.

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