Tenders Are Invited For Pillar Two It System Implementation (Pillar 2) in United Kingdom

Work Detail

On 22 October 2024, Jersey’S States Assembly Unanimously Adopted The Following Package Of Pillar 2 Legislation For Multinational Groups Of Enterprises In Scope Of Pillar 2, Applicable For Accounting Periods Beginning On Or After 1 January 2025, Namely: 1.Iir - The Multinational Taxation (Global Anti-Base Erosion – Iir Tax) (Jersey) Law 202-; And2.Mcit - The Multinational Corporate Income Tax (Jersey) Law 202-. The Government Of Jersey Has Confirmed That It Will Not Be Implementing An Undertaxed Profits Rule At This Time. The Pillar 2 Legislation Will Only Apply To Multinational Groups Of Enterprises With More Than €750 Million Global Annual Revenue. All Other Businesses That Are Below The €750 Million Threshold Will See No Impact And Will Remain Under Jersey’S Existing Corporate Income Tax Regime. Under The Multinational Corporate Income Tax, Jersey Companies And Jersey Branches Of In-Scope Multinational Groups Will Pay An Effective Rate Of 15% On Their Jersey Profits From 2025. Furthermore, Under The Income Inclusion Rule Law, Ultimate Parent Entities And/Or Intermediate Parent Entities, Based In Jersey, Will Be Subject To A Top-Up Tax On Their Non-Jersey Profits, In Certain Limited Circumstances.The Government Of Jersey Is Committed To Ensuring That Taxpayers Are Provided With The Highest Standards Of Customer Service In Implementing The New Pillar 2 Regime In Jersey. As Such, Revenue Jersey Has Begun Development Work On A New It Portal That Will Provide The Simplest Possible Interface For Pillar 2 Taxpayers To Deal With Their Obligations Under The Mcit And The Iir. To Date, Revenue Jersey Has Undertaken Work To Systematically Identify And Map The Requisite Pillar 2 Business Process That Will Inform The Procurement And Design Of The New It Solution That Will Underpin The Pillar 2 Portal. To This End, The Expression Of Interest (Eoi) Aims To Set Out The Objectives Necessary To Deliver A Customer Focused And User-Friendly It Solution Capable Of Achieving The Desired Outcomes, As Set Out In More Detail In The Eoi. The Eoi Aims To Outline The Scope Of The Pillar 2 Solution, The Minimum Viable Product Features And Functionality Of The System As Well As The Key Timelines And Milestones For Delivery Of The Product.

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