Working with Pillar Two Entity Classification Forms

To work with Pillar Two Entity Classification Forms:

• Navigate to Library > Pillar Two Administration.
• Click on Pillar Two Entity Classification Form.

  

  Note:

  This form:

  • allows entity classification for all the legal entities
  • has pre-built validations to classify an entity based on its configuration

Pillar Two Entity Classification Form Layout

• POV : Scenario, Year, Period and the Pillar Two Legal Hierarchy.
• Rows: Descendants of the Entity mentioned in the Pillar Two Legal Hierarchy.
• Columns:
  • Pillar Two Jurisdictions: Displays the reporting jurisdiction present in the Pillar two Jurisdiction Automation form.
  • Out-of-box descendants of TRCS_PillarTwoEntityClassificationReason for Exclusion – Following reasons for excluding the entity can be selected.
    • Governmental Entity
    • Non-profit Organization
    • Pension Fund
    • International Organization
    • Investment Fund that is an UPE
    • Real Estate Investment Vehicle that is an UPE
    • Entity owned by Excluded Entities under Article 1.5.2 (a)
    • Entity owned by Excluded Entities under Article 1.5.2 (b)

Note:

• Pillar Two Jurisdictions column is read-only in this form. Any selections for Pillar Two Jurisdictions can be made in the Pillar Two Jurisdiction Automation form.
• All Classifications are available for selection for parent entities without the Parent Tax Calc Attribute.