SCORDIS, PAPAPETROU & Co strengthens its international tax capabilities with specialised Pillar Two expertise
As the international tax landscape continues to evolve, multinational groups are facing increasingly complex compliance, reporting and strategic challenges arising from the OECD’s Global Minimum Tax framework.
The Pillar Two framework marks the emergence of a new international tax landscape, seeking to set a floor under the “race to the bottom” in corporate taxation. This new international tax approach introduces a complex set of technical rules and mechanisms designed to establish a minimum 15% effective tax rate for in-scope Multinational Enterprise (MNE) Groups.
Recognising the need for MNE Groups to navigate and respond effectively to this highly technical and evolving framework, we are pleased to announce that Costas Michail, Tax Partner at SCORDIS, PAPAPETROU & Co, has been awarded the Pillar Two Certification by the Chartered Institute of Taxation (CIOT).
This achievement further strengthens our Firm’s capabilities in the field of international taxation and reflects our commitment to maintaining a high level of technical expertise in areas of increasing importance to our clients, including MNEs operating within and outside Cyprus.
SCORDIS, PAPAPETROU & Co has also established a dedicated Pillar Two task force, comprising Lawyers, Tax and IFRS professionals, to provide integrated insights and expertise across areas including:
• Pillar Two impact and applicability;
• Transitional and permanent safe harbour analysis;
• GloBE effective tax rate and top-up tax calculations;
• Pillar Two compliance and reporting obligations;
• Assessment of the interaction between Pillar Two, corporate tax and existing group structures; and
• Ongoing advice as the OECD framework and local implementation rules continue to develop
with the aim of advising and helping MNEs navigate the evolving Pillar Two landscape with confidence, combining international tax, legal, regulatory, accounting and compliance expertise.
Strengthening Our Pillar Two Expertise
