The reality of Global Minimum Tax (GMT) (GloBE or OECD BEPS 2.0 Pillar 2) is here, as South Korea steps forward to be the first country to enact laws associated the OECD’s newly approved tax regime going into effect in January 2024. 137 countries covering 90% of the global economy signed a deal to enforce […] … Read More
Corporate tax teams are facing an array of risks, new and old, that complicate their ability to deliver an accurate and defendable tax provision within an ever-shrinking financial close window. These liabilities include new flexible work models; challenges accessing tax data and streamlining workflows; and regulatory developments, including global minimum tax, among other concerns. The […] … Read More
According to the Thomson Reuters 2022 State of the Corporate Tax Department report, almost two-thirds of all corporate tax departments are either at, or near the beginning of their tax technology journey. As a result, understanding how to manage the transition to a more automated, technologically sophisticated department is a top priority for many tax […] … Read More
Improvements in technology have fundamentally changed tax authority expectations on how much data a company can provide and when. For many companies, digitalisation is the only way to stay compliant as authorities migrate to a real-time, digital indirect tax environment. In a recent webinar organised by Thought Leadership Global in partnership with Thomson Reuters, a […] … Read More
New regulations in Norway and Romania illustrate further regulatory updates impacting European VAT compliance and reporting obligations as tax authorities push towards digitalisation and greater transparency. Our constant monitoring of VAT legislation ensures that ONESOURCE Indirect Compliance continues to support our clients seamlessly through evolving changes. Below are the specific Norwegian and Romanian VAT changes […] … Read More
Essential questions to help you choose the right software vendor for your corporate indirect tax process. How do you sort through all the choices and find the right software vendor to automate your indirect tax process? Use the questions below as you evaluate vendors. The software vendor that provides the most items in the list […] … Read More