OECD Publishes Version 2.0 of GloBE Information Return (GIR) XML Schema
The Organisation for Economic Co-operation and Development (OECD) has released an updated user guide and XML schema for the Pillar Two GloBE Information Return (GIR), now in Version 2.0. This significant update, published on October 20, 2026, incorporates the latest changes to the GIR following the adoption of the Side-by-Side Package, which refines the global minimum tax framework. Version 2.0 also includes technical upgrades designed to enhance and support future information exchanges between tax administrations regarding Pillar Two. For multinational enterprises (MNEs), this necessitates a review and potential adjustment of their internal reporting systems, data capture processes, and IT infrastructure to ensure alignment with the new technical specifications for submitting GloBE Information Returns, critical for compliance with global minimum tax rules.
- Multinational enterprises (MNEs) must review and understand the updated GIR XML schema (Version 2.0) to ensure compliance with Pillar Two reporting requirements.
- Tax technology and IT teams need to adjust systems and data processes to align with the new technical specifications for the GloBE Information Return.
- This update facilitates standardized cross-border information exchange related to Pillar Two, signaling the continued operationalization of the global minimum tax framework.
- Non-compliance with the updated schema could lead to reporting discrepancies and potential issues with tax authorities.