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Federal Budget Brief 2017
Outlook for global tax policy in 2017
Chevron unsuccessful in Full Federal Court appeal relating to borrowing from related party
Tax transparency’s new normal
Australian proposals for changes to REIT and infrastructure stapled structures
Seeking certainty as tax disputes increase
Tax change in the USA
ATO expands its Tax Risk Management and Governance Review Guide
We’ll help you navigate the global tax landscape
The business and tax landscapes have changed dramatically, and the pace and complexity of change continues to increase. We can help you navigate this shifting landscape. Governments are tempering the need for revenue with increased competition for labor and capital. Tax authorities are adapting their enforcement strategies, focus and policies in response to the changing dynamics of business. Companies are balancing competing priorities, ensuring they maintain compliance while adding value. We can assist you with these critical issues in today's tax environment, including:
- Seizing the opportunity in Global Compliance and Reporting
Global Compliance and Reporting (GCR) is at a tipping point. Many companies distribute responsibility for GCR processes throughout their organization creating a patchwork. The results are suboptimal. Our recent survey shows a need for a new approach.
Due to the combination of evolving business models, transforming finance functions and an increasingly complex regulatory landscape. There are new opportunities to better optimize efficiency, control and value, to help mitigate risk and improve performance.
What is Global Compliance and Reporting?
GCR comprises the key elements of a company's finance and tax processes that prepare statutory financial and tax filings as required in countries around the world. These duties include:
- Statutory accounting and reporting
- Tax accounting and provisions
- Income tax compliance
- Indirect tax compliance
- Governance and control of the above processes
GCR activities reside in the middle of a broader set of so-called record-to-report (R2R) processes. R2R is the intersection between any company's finance and tax departments and is used to capture, process and store information that is essential to statutory accounting, tax compliance and reporting. Any change to R2R processes, information, finance systems, roles and responsibilities will have a direct impact on GCR processes.
Risk on the rise
GCR risks are on the rise. Local jurisdictions are rewriting regulations, focusing more intently on the collection of tax revenues and sharing more taxpayer information across borders. At the same time, the global financial crisis has driven companies to redesign their finance operating models to remain competitive and to take advantage of opportunities for growth.
Our new report Seizing the opportunity in Global Compliance and Reporting investigates the significant developments taking place as multinational companies determine the best way to meet financial reporting and tax obligations worldwide.
Our case study highlights how we helped leverage an array of external providers
Helping you achieve meet the new GCR demands
Fast changing compliance and reporting requirements are more demanding on tax and finance functions today than ever before. So how do you improve control and quality, manage risk, create efficiency and drive value?
Our market-leading approach combines standard and efficient processes, highly effective tools and an extensive network of local tax and accounting subject matter professionals.
See more on how we can help you meet the demands of today's tax landscape
- Seizing the opportunity in Global Compliance and Reporting
- VAT and GST: Managing the multinational burden
- The intersection of VAT and shared service centers
- Operational effectiveness of international supply chains
Today’s business environment for large, global companies is more fluid and complex than ever before. Companies are adapting their supply chains to respond to increasingly competitive market conditions and to deliver higher revenue and greater value to their shareholders and customers.
Now, more than ever, multinational companies are expanding their global footprint, to both seek new markets and to capture cost efficiencies. As part of this drive, they are increasingly expanding their supply chains.
With every development in the supply chain comes new costs and new risks to factor in
Alongside the advancement into new markets, leading companies are also further developing their existing supply chains to drive cost efficiencies and boost margins in their mature market operations.
Leading companies recognise the need for comprehensive, proactive planning
But whether it is to enter new markets or to drive efficiencies in existing markets, the new leading companies have one shared characteristic – they fully recognise that carrying out comprehensive, proactive planning across the new supply chain model can maximise the opportunities and mitigate the risks as much as possible.
Only with a truly holistic approach can all supply chain costs - including taxes - be assessed and managed.
The challenge of change
Every day companies face decisions about how to change their operations on a global basis.
The challenge in making such decisions is to look at the problem holistically, considering all facets of the problem. Tax consequences should be a part of the analysis because the tax impact of any business change may be very large and lead to a different result than an operations only analysis.
Often, companies will bring tax into the process only after the operational opportunities or alternatives have been narrowed and defined, resulting in unforseen outcomes. Instead by integrating international tax at an earlier stage, different alternatives or operating models may emerge as the most effective overall.
With the integrated approach of our Supply Chain Management practice, we can often unlock benefits that would not have been possible if such integration had not been present from the beginning.
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When expanding operations across Asia-Pacific, careful consideration of key HR payroll and immigration matters at the outset is the most effective way of ensuring the most optimal structure for businesses and employees in new markets.