Tax & Accounting Blog

NEWS, TRENDS AND RESOURCES FOR
TAX AND ACCOUNTING PROFESSIONALS

How will Australia close the tax gap on the digital economy?

October 29, 2018

Just how to tax the digital economy has been a sore point for the international community since BEPS’ inception.  And it was only one a year ago at the IFA Congress, that the OECD’s Pascal Saint-Amans and IFA President Porus Kaka were both lamenting the continued lack of global consensus on implementing BEPs Action 1. […]

How will Australia close the tax gap on the digital economy?

How will Australia close the tax gap on the digital economy?

Just how to tax the digital economy has been a sore point for the international community since BEPS’ inception.  And it was only one a year ago at the IFA Congress, that the OECD’s Pascal Saint-Amans and IFA President Porus Kaka were both lamenting the continued lack of global consensus on implementing BEPs Action 1. […] … Read More

Building a technology business case: strategies for tax managers

Building a technology business case: strategies for tax managers

Globalisation and ever-changing regulations have put tax departments under pressure to do more reporting then ever, often with less resources, and old systems and processes. Cross-functional collaboration in an organisation is fundamental in meeting compliance requirements, but it also creates an ideal opportunity to adopt technology for the benefit of everyone. with this in mind, how can you build your case? … Read More

Companies warned over inconsistencies between BEPS filing and public data

Companies warned over inconsistencies between BEPS filing and public data

Australian companies facing their second year of reporting under new anti-tax avoidance laws are being warned to avoid inconsistencies with publicly available business information, reports the Australian Financial Review.  Obligations under the ATO’s base erosion and profit shifting action plan rules (BEPS) include local and country-by-country filing, with fines of up to $525,000 for anyone providing incorrect or […] … Read More

Designing for people: Tax and the process of transformation

Designing for people: Tax and the process of transformation

Imagine being able to press pause on business operations and to take stock of your tax and accounting processes. To start afresh, removing the barnacles and band-aids, keeping what is working, and re-working what can be done better. Transforming it into a process “Utopia”. But even then, it would never remain in this “flawless” state. […] … Read More

Five tips to getting BEPs right every time

Five tips to getting BEPs right every time

Eight out of 10 Australian companies say they can’t comply with the new Year 2 local file requirements without some assistance, according to a recent Thomson Reuters survey. The survey of participants at our recent webinar, BEPS: One Year On, suggests that many companies (80%) are still not confident in meeting the requirements of the […] … Read More