One business truism rarely discussed, not just among tax professionals but the wider business community, is just how widespread the use of spreadsheets remains in the modern business world. Applications such as common-or-garden Excel are the core medium for corporate data across small businesses right up to global multinationals and financial services giants, used by all of these as vehicles for business critical data, including tax and accounting information.
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The climbdowns pave the way for a side-by-side deal to be concluded this week, as per the US Treasury secretary’s expectation; in other news, Taft added a 10-partner tax team
Foreign companies operating in Libya face source-based taxation even without a local presence. Multinationals must understand compliance obligations, withholding risks, and treaty relief to avoid costly surprises
Tax professionals are still going to be needed, but AI will make it easier than starting from zero, EY’s global tax disputes leader Luis Coronado tells ITR
The new guidance is not meant to reflect a substantial change to UK law, but the requirement that tax advice is ‘likely to be correct’ imposes unrealistic expectations