Tax & Accounting Blog

NEWS, TRENDS AND RESOURCES FOR
TAX AND ACCOUNTING PROFESSIONALS

Statutory Reporting gets a global makeover
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

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

Questioning Excel: Is your allegiance costing your business?

Questioning Excel: Is your allegiance costing your business?

Thomson Reuters’ Director of Product Management ANZ,  Nicholas Wong, spoke to Accountants Daily about the future of MS Excel in the tax and accounting sphere. While most organisations are moving away from Excel as a tool to collect data, Wong is hesitant to predict the death knell of Excel over the next decade. “There will always be a […] … Read More

Justified Trust: Has GST compliance taken us to the tipping point?

Justified Trust: Has GST compliance taken us to the tipping point?

GST Streamline Assurance reviews, the latest addition to the ATO’s whole-of-tax compliance framework, is placing a heavy burden on corporate tax teams. We look at some of the recent developments and how the industry can be better equipped to deal with this latest wave of compliance changes ahead of the Corporate Tax Association's GST & Indirect Tax Intensive in October. … Read More