Once a fringe idea for a new accounting standard, country-by-country reporting now fits the mood of a public eager to lift the lid on corporate secrecy and is fast gaining credence with policy makers and regulators. Salman Shaheen finds out what it is, what it means for taxpayers and why the tax justice movement believes it is the panacea for tax evasion and secrecy.
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The appointment of former Missouri representative Billy Long means Danny Werfel’s term will be cut short; in other news, former UK chancellor Philip Hammond has joined a tax consultancy’s board
PwC’s ability to ‘quarantine critical information’ should raise concerns for regulators worldwide, Deborah O’Neill said in her warning letter to the PCAOB
Problem solving skills are nothing more than a ‘nice to have’ for clients, according to new ITR+ research and conversations with six global in-house and advisory tax leaders
Despite China and India’s hesitation towards pillar two, there’s still enough movement in other countries for clients to start getting ready, James Badenach also tells ITR
The investigations dated back to 2015 and alleged that the companies received huge financial advantages from TP rulings; in other news, Australia is set to adopt a CbCR regime
Taxpayers would have to register controlled commodity transactions and declare information to the Brazilian tax authorities under the proposed regulations