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QDMTT stands for 'Qualified Domestic Minimum Top-up Tax' and is part of the Pillar Two framework. Pillar Two is part of the global tax reform initiative led by the Organization for Economic Co-operation and Development (OECD) and the G20.
The purpose of the QDMTT under Pillar Two is to allow jurisdictions to impose a domestic minimum tax on the income of MNEs before other countries apply additional taxes to reach the global minimum rate. This ensures that the revenue from the top-up-tax stays within the jurisdiction where the economic activity occurs rather than being collected by other countries.
Does it affect me?
Under the Pillar Two rules, multinational enterprises (MNEs) with consolidated revenues of over €750M will be subject to a minimum ETR of 15% on income arising in low-tax jurisdictions.
If you are operating in any countries that have a QDMTT obligation you will be required to file a report in line with their guidelines for each jurisdiction that has one.
What do I need to do?
You'll be required to gather and report on various data points (still to be determined for some jurisdictions) in order to comply.
The QDMTT is a key component of the OECD's Pillar Two tax framework. It will likely take the form of a regulatory report filed annually which reports of specific and unique data points for each jurisdiction. This report will likely take the form of an XML and require submission to every local tax authority.
What's the deadline?
QDMTTs apply to qualifying businesses and every relevant jurisdiction for financial periods beginning on or after December 31st 2024.
Source agnostic
Our platform accepts data from any source and in any format. No need to reformat your data; we handle the transformation.
Data aggregation
Our platform uses an advanced engine to aggregate and transform your raw data ready for reporting.
Calculation
We're ready to do all the hard work and calculations for you no matter what compliance process you need to complete.
Comprehensive reporting
Our Machine Learning and PowerBI capabilities mean you get full visibility and never miss a trick.
Compliance
We'll make sure you have all the mandatory requirements of Pillar Two tax covered, and get a compliant and validated file ready for submission.
Want more? No problem, our tool is built for easy customisation. So not only can you take care of QDMTTs and Pillar Two compliance- you can use the tool for so much more!
First and foremost, we can handle your full calculation and compliance for ALL QDMTTs regardless of jurisdiction. Everything you need in one place!
With ARKK at your side, you can offload the burden of complex tax calculations effortlessly.
Taking your existing data, our platform uses a sophisticated cloud-based calculation engine, fueled by state-of-the-art Machine Learning technology, to reduce the burden of QDMTT compliance.
Tech you can trust
Take advantage of a robust cloud-based automation tool trusted by some of the world's largest enterprises.
Big data welcome
Upload datasets of unlimited size and scale- whatever you need, we're ready and waiting to support you.
No structure, no problem
Whatever format your data exists in at present, we'll aggregate and enrich it- no need to prepare and submit your data in rigid templates.
Your data, your terms
We get it- Pillar Two data takes many forms. So our platform lets you upload data using both automated and manual input tools.
Reporting made easy
Comprehensive CbCR, Pillar Two Safe Harbours, QDMTT and GloBE reporting capabilities are supported by an integrated PowerBI and XML engine.
De-stress tax
Use our platform to streamline other tax functions including OTP, VAT, and beyond- and hit new heights of efficiency and versatility.
Better together
Take care of Pillar Two and QDMTTs while unlocking new growth and innovation opportunities by automating more of your tax and finance processes.
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Discover why our fresh approach to tax and finance is trusted by over 70% of the FTSE 100.
The information that came back from ARKK was so clear and transparent.
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Valentin Ramousse, Head of International Business Development & Partner, Emperor Works
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The numbers behind Pillar Two
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