PODCAST

Podcast: Global minimum tax

We provide an overview of the Pillar Two GloBE rules and accounting for the new top-up tax.

John Barbagallo

John Barbagallo

Managing Director, Dept. of Professional Practice, KPMG US

+1 212-954-7258

Matt Drucker

Matt Drucker

Partner, Dept. of Professional Practice, KPMG US

+1 212-872-3584

Jenna Summer

Jenna Summer

Partner, Accounting for Income Taxes, KPMG US

+1 202-533-3614

Podcast overview

Matt Drucker, KPMG Department of Professional Practice partner, and Jenna Summer, KPMG Washington National Tax partner, join host John Barbagallo to discuss the Organisation for Economic Cooperation and Development (OECD) Pillar Two Global Anti-Base Erosion (GloBE) rules and the accounting implications under US GAAP and IFRS® Accounting Standards. 

Applicability

  • Multinational enterprises (MNE) with consolidated group revenue exceeding €750 million in at least two out of the last four years

Report contents

  • 00:20 – Introduction
  • 00:50 – Overview of Pillar Two GloBE rules
  • 03:05 – Accounting questions raised
  • 04:00 – Accounting for the top-up tax: US GAAP
  • 06:40 – Accounting for the top-up tax: IFRS Accounting Standards
Global minimum tax
Financial reporting podcast transcript