The European Council for Economic and Financial Affairs (Ecofin) will push ahead with gaining agreement on the implementation of the quick reaction mechanism (QRM) to combat VAT fraud. However businesses are still concerned about the effect of an additional compliance burden.
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Despite the relief, Brazil’s government has also presented a bill which seeks to re-impose a tax burden on companies’ payroll, one local tax specialist told ITR
While successful pillar two implementation will require collaboration across all units, a combination of internal and external tax advice is at the centre of the effort