The geopolitical terrain is undergoing unforeseen changes, and certain prominent trends that had solidified in past decades are now experiencing a reversal. The regulatory and policy environment is both ramping up and diverging in critical areas. Multinational corporations and small businesses are facing significantly different challenges. And in a high-profile election year in many countries, […] … Read More

International tax planning is undergoing enormous change.  By the beginning of 2024, a new Global Minimum Tax (GMT) regime will come into effect under the OECD’s base erosion and profit-sharing initiative. With these newly introduced “Pillar Two” rules, multinational companies with revenues of more than €750 million will have to pay a minimum 15% rate […] … Read More

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