Pillar Two
Discussion List
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Pillar Two (QDMTT, IIR, UTPR) and Qualified Parent & Entity Top Up Tax Allocation in TRCSSummary: Require clarity on the release timeline and roadmap for Pillar Two functionalities (QDMTT, IIR, UTPR) in TRCS, including the Qualified Parent and Entity Top Up …Varsha Aggarwal 18 views 1 comment 0 points Most recent by Ken Kramer-Oracle Tax Reporting (Direct Tax) -
Sample Application - TRCS - Does it have any data?Summary: Does the sample TRCS application has data? If yes which are the POVs it has data? Content (please ensure you mask any confidential information): Does the sample…
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Pillar Two Temporary Difference DT calculation (current or closing rate?)Summary: We share our temporary differences into Pillar Two covered Tax hierarchy using the method described in the admin guide (https://docs.oracle.com/en/cloud/saas/ta…Tom Stevenson 11 views 1 comment 0 points Most recent by Ken Kramer-Oracle Tax Reporting (Direct Tax)
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Safe Harbor Consolidation ErrorSummary: I get this error when running safe harbor consolidation: "Consolidation cannot be performed. Either the selected entity or its descendants are already being pro…
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SBIE Average's translation in TRCSSummary: Wanted to understand if the translation of the "SBIE average" formula is as intended Content (please ensure you mask any confidential information): We have the … -
Pillar 2 QueriesSummary: Couple of queries re Pillar 2 presentation in TRCS Content (please ensure you mask any confidential information): Got a couple of queries re Pillar 2 presentati…
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NIBT Override in Pillar 2 with Pillar 2 currencySummary: Hi Ken & Team, We load P12 Data on a YTD basis (Rather than 1-12 periodically) and use an NIBT override to override NIBT & Book accounts to get correct NIBT / P…
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Parent Automation In Pillar Two for GloBE income / Covered Tax adjustmentsSummary: Hi Ken & team, the admin guide for Pillar Two says parent tax calculations work in the pillar two flow. We currently use parent tax calcs to automate / calculat…
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Options for Overriding Amounts in the Currency Translation for Tax Reporting Pillar 2Summary: We are using the Oracle EPM Cloud Tax Reporting solution with the Pillar 2 module and face challenges in ensuring consistent currency conversion between the con…Bjoern Schumacher 81 views 5 comments 0 points Most recent by Ken Kramer-Oracle Tax Reporting (Direct Tax)
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Pillar Two Recast Deferred Expense to 15%Summary: The Recast Deferred Expense to 15% in the Pillar Two Covered Tax form uses the Current Tax Rate to calculate the value however we would like to use the Closing …
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Will the Entity Allocation form be used for IRR in the future, or will be a separate form for IRR?Summary: Will the Entity Allocation form be used for IRR in the future, or will there be a separate form for it? If there is a different form and calculation, when will …
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How to enable new feature entity allocation under pillar two in configuration.Summary: How to enable new function entity allocation> pillar two >under the configuration? Content (please ensure you mask any confidential information): Version (inclu…
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Experience/suggestion for handling NMCE/Non-consolidated Data in Pillar TwoSummary: Pillar Two requires GloBE calculation for Non-Material Constituent entities, which do not form part of the consolidation process. Is there any experience in the…Tom Stevenson 11 views 1 comment 0 points Most recent by Ken Kramer-Oracle Tax Reporting (Direct Tax)
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Interaction between USD CbCR and Pillar 2 safe harboursSummary: To ensure CbCR values meet qualifying criteria, post-translated (USD_reporting) values are sourced from FCCS for financial values in table 1 - Revenue and profi…
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Configure Pillar Two to use a different scenarioI want to segregate Pillar Two from the main TRCS Tax Provision which uses the Actual scenario, so have created an Actual_PillarTwo Scenario. I have updated the Pillar T…Ivor Davies 131 views 14 comments 0 points Most recent by Bjoern Schumacher Tax Reporting (Direct Tax)
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TAX: How does Oracle addresses the XML feature for fulfilling the OECD reporting of pillar twoSummary: Content (please ensure you mask any confidential information): Hi Tax team I would like to know if Oracle is providing XML feature for fulfilling the OECD repor… -
How to adjust an ETR % results when it should be null in the P2 SH Overview formSummary: Content (please ensure you mask any confidential information): Hi all We are seeing an ETR % display when there is no PROFIT and thus should display nothing or …
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GloBE Information Return TimingSummary: GloBE Information Return Timing Content (please ensure you mask any confidential information): Good work so far on Pillar Two. Are you able to provide guidance …
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do we have any documentation for elections/ entity classifications feature in TRCSHi, Could someone help me with the below, I'm looking for documentation with illustrative examples of how entity classifications impact calculations in TRCS (similar to …
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Pillar II Jurisdiction Creation and Assignment for Multi-Currency JurisdictionsSummary: What is the correct process for setting up and assigning Pillar II Jurisdictions when the Domicile has entities in multiple currencies? Content (please ensure y…Brian Robinson 21 views 1 comment 0 points Most recent by Ken Kramer-Oracle Tax Reporting (Direct Tax)
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Pillar two queriesSummary: Let us know by when Phase3 and Phase 4 are targeted to be released? Ie, Entity Classification, In / out scope and Election tracker and IIR, UTPR, QDMTT. Also wa…Vishnuvardhan Reddy-269056 24 views 1 comment 0 points Most recent by Ken Kramer-Oracle Tax Reporting (Direct Tax) -
Can we start safe harbor Pillar Two? Till we understand how we can set up the rates?Summary: Can we start safe harbor Pillar Two until we understand how we can correctly setup the rates.? Idea Number: 771348 Content (please ensure you mask any confident… -
What is entity classification in the TRCS Enable features sectionSummary: What is the Entity Classification feature in the TRCS enable features section. The admin guide doesn't refer to this (or the other Pllar 2 features) in the Enab… -
Pillar Two Out Of Scope EntitySummary: What are the correct steps recommended by Oracle to determine if an entity is out of scope and steps required. Content (please ensure you mask any confidential …Sanjana Soni 21 views 1 comment 0 points Most recent by Ken Kramer-Oracle Tax Reporting (Direct Tax)
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Pillar Two phase threeSummary: Pillar Two Phase Three & Four Development Content (please ensure you mask any confidential information): We are starting with the TRCS implementation soon for o…Rohan Prabhudesai 53 views 1 comment 0 points Most recent by Ken Kramer-Oracle Tax Reporting (Direct Tax)
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Pillar Two Covered Tax Automation ProblemSummary: I am having problems with the Pillar Two Covered Tax Global Automation rule which is not coping the data from the Source Accounts to the Pillar Two Target accou…
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Pillar II Automation - Regional taxesSummary: Is there any guidance/functionality to address regional/state tax in TRCS for Pillar II purposes? At the moment it appears it is the national position that is p…
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Why is Pillar two Currency set up in the system? - Translation To EUR ReportingSummary: Why is Pillar two Currency set up in the system? Definition of Pillar Two Currency? Entity can be different currency but for Pillar Two reporting it can be a di…
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Pillar Two Currency ConversionSummary: I have a question regarding the currency conversion in Pillar Two. I have run the rule 'Translate From Pillar Two Currency To Reporting Currency' however when I…
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Pillar Two Safe Harbor is enabled in the application but how does it impact top tax calculation?Safe harbor is enabled in the application but it seems not impacting any top tax calculation. Ideally if Safe harbor is applicable on the jurisdiction then top up tax sh…Karan Varshney 52 views 1 comment 0 points Most recent by Ken Kramer-Oracle Tax Reporting (Direct Tax)