From January 1, 2024, the Irish financial services industry must contend with a new tax development in the form of the Pillar Two rules, or the minimum 15% tax rate. As with previous tax changes, the accounting treatment has become more and more important to the tax treatment, and in particular for Pillar Two, the question of whether entities are consolidated or not is fundamental to the question as to whether these entities are going to be subject to tax at 15%.

Niamh Geraghty, Partner and Investment Management Leader, and Pieter Burger, Partner and Aviation Finance Leader, unpack the impact of Pillar Two on consolidation, outline how financial services firms should approach the question of consolidation, and detail what organisations should do now to be ready for January 1.

Our video was filmed in March 2023.