PwC international tax platform, Beacon, now available for licensing

Big Four firm PwC announced that its international tax platform Beacon, which had previously been used internally on client engagements for over 20 years, is now available for non-audit clients to license for Pillar Two and U.S. international tax calculations.

This public release — available as a SaaS product — includes the Pillar Two Engine, which is being touted as being able to help multinational organizations comply with the OECD’s Pillar Two framework, itself part of the broader OECD Inclusive Framework covering the tax challenges involving the digitalization of the economy. Pillar Two introduces a global minimum effective tax rate where multinational groups with consolidated revenue over €750m (roughly $820 million) are subject to a minimum effective tax rate of 15% on income arising in low-tax jurisdictions.

Beacon, via the Pillar Two Engine, quantifies the impact of Pillar Two on multinational organizations. Companies that license it will be able to run their own calculations internally while also benefiting from ongoing maintenance and regulatory updates provided by PwC’s global network of international tax specialists.

The solution sports a cloud-based rules engine that provides access to the latest tax regulations — as well as the ability to incorporate interdependent legislative provisions — which lets companies stay ahead of legal changes and perform predictive scenario monitoring. It 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 computations. 

It can also create data visualizations and reports that can turn complex tax data into broader insights.

Built on graph technology, Beacon leverages AI, advanced analytics, data visualizations and custom reports to streamline data ingestion, calculation, review and reporting processes.

“Beacon represents a significant leap forward in the realm of international tax compliance,” said Doug McHoney, PwC international tax services global leader. “By leveraging our centralized 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.”