After nearly two and half years of working towards Pillar Two, tax professionals could be forgiven for starting to feel fatigued. Getting to grips with the framework has already been a long haul, often relying heavily on manually intensive work and unwieldy, complicated Excel spreadsheets.    

Not only tiring, the demands of compliance have been expensive too. Consolidating volumes of disparate financial data and its complex analysis, have necessitated significant levels of extra investment, including external consultants. A report from Deloitte suggests that this cost can be as much as £135,000 for each one billion of revenue a group makes.  

The sharp end of Pillar Two