As global tax regulations continue to evolve, Beacon is designed to help multinational organisations navigate the complexities of the OECD’s Pillar Two framework, positioning them for growth and strategic use of time and resources.
Beacon features the Pillar Two Engine to quantify the impact of Pillar Two on multinational organisations. The Pillar Two Engine is already developed and actively used by PwC to assist clients with Pillar Two calculations, and it will remain instrumental in meeting compliance obligations. This technology is now offered as a SaaS solution, offering flexibility to multinational organisations that wish to conduct Pillar Two calculations internally while benefiting from ongoing maintenance and regulatory updates provided by PwC’s global network of international tax specialists.
One of the standout features of Beacon is its centralised cloud-based rules engine, which provides real-time access to the latest tax regulations. This enables businesses to stay ahead of legal changes and manage global tax analysis uncertainties through predictive scenario modelling. The Pillar Two Engine is adapted for local rules to meet Pillar Two requirements for global and statutory compliance, including constituent entity analysis, Transitional Safe Harbor assessments and full qualified domestic minimum top up tax (QDMTT) computations.
Built on graph technology, the Beacon’s centralised rules engine simplifies and enhances the organisation of complex data for high-volume performance. Designed to allow tax professionals to focus on more strategic tasks, Beacon leverages AI, advanced analytics, data visualisations and custom reports to streamline data ingestion, calculation, review and reporting processes. This approach provides a holistic solution that ensures seamless integration and usability, not only saving valuable time but also offering greater visibility and accuracy in tax calculations, aiding informed decisions. Providing high quality data with context is crucial given the urgency to act on Pillar Two now.
For over two decades, Beacon has been backed by PwC’s extensive international tax knowledge and expertise, providing a reliable and robust solution for today’s dynamic tax environment.
“Beacon represents a significant leap forward in the realm of international tax compliance. By leveraging our centralised cloud-based rules engine, clients can stay ahead of ever-evolving tax regulations with real-time updates and predictive scenario modelling through our Beacon SaaS licensing model. With Beacon, we are providing a holistic solution that integrates advanced analytics and custom reporting, ensuring that our clients have the precise, actionable insights they need to navigate today’s dynamic tax landscape confidently.” – Doug McHoney,International Tax Services Global Leader, PwC US
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“In today’s rapidly evolving regulatory landscape, businesses need agile, efficient tools to stay compliant and drive growth, and many are looking to licence these solutions in-house. Beacon embodies these principles and is at the heart of PwC’s strategy to deliver tech-enabled solutions that address the most pressing challenges facing our clients. This platform not only mitigates risk but also empowers our clients to make informed, strategic decisions and to navigate the complexities of international tax compliance.” – Carol Stubbings,Global Chief Commercial Officer, PwC United Kingdom
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