Diversity in tax: Growing together There is an abundance of talented and inspirational individuals in the tax sector, but not everyone receives the opportunities and recognition they deserve. Anjana Haines explores how diverse the tax sector is today and where improvements would create a more inclusive sector tomorrow.
Market insight Mazars, Marks Paneth, Travers Smith and Simpson Thacher were among the firms who appointed new members to their tax practice over the past few months.
Female tax practitioners say more needs to be done on gender equality Leading female tax practitioners worldwide believe gender equality and opportunities for women are improving, but there are still numerous barriers to address. Jon Moore, World Tax editor, presents the ITR Women in Tax Leaders Survey 2020.
Diversity and inclusion: Building a strong tax foundation Keith Brockman explains why diversity and inclusion are key pillars to a strong tax function.
Tax industry professionals respond to OECD’s proposed changes to CbCR As the Inclusive Framework conducts its 2020 review of country-by-country reporting (CbCR) requirements set out in Action 13 of the BEPS Acton Plan, the OECD held a public consultation to hear from stakeholders on all aspects of the minimum standard.
Brazil returns to the arm’s-length principle As Brazil embraces OECD standards, many countries are moving in the opposite direction. This seismic shift in the largest South American economy could mean that Brazil will remain an outlier in global tax policy.
Business leaders divided over Brazil tax reform in 2020 Tax professionals are split on the likelihood that Brazil will approve tax reform in 2020 and uncertainty remains over which reform proposal is most likely pass.
International tax certainty: Time for a ‘pillar’ of strength Peter Nias, barrister at Pump Court Tax Chambers in the UK, explains why the OECD needs to establish a new working party that brings together all the dispute prevention measures into a holistic solution to supplement the range of mutual agreement procedures (MAPs).
Best practices for BAME diversity in tax Tasneem Kadiri, UK and Ireland tax director at L’Oréal, shares her experience of building a career and how companies could be more diverse and inclusive for black, Asian and minority ethnic (BAME) people.
Making diversity and inclusion a reality: How the tax function transforms Addressing diversity and being inclusive is a business reality and a must-have in tax departments. Donata Koren, global head of tax, and Andrew Daly, senior tax manager, at Zalando, share how their tax function has developed an environment where creativity and engagement flourishes.
Applying the diversity principle to the tax function is essential The principle of diversity is well accepted on boards and across entire organisations, but what about diversity within teams? Sandy Markwick, head of the Tax Director Network at Winmark, asked whether a tax team can be more effective through diversity.
Looking East: Southern Asia’s move to digital tax controls Countries in southern Asia will follow the success of Latin American tax administrations in implementing tax digitalisation and are closely watching India’s implementation of e-invoicing before they join the trend, writes Filippa Jörnstedt, senior regulatory counsel at Sovos.
The challenges of building a tax practice in India as a woman Alpa Kuwadia, partner at Kuwadia Shah Shah & Associates, shares her journey of building her own tax practice in India while juggling family life. She shares her seven steps to success.
LIBOR: TP considerations for Asian financial and treasury centres The London interbank offer rate (LIBOR) will end in 2021. Sam Sim, senior advisor at the Vienna University of Economics and Business, and James Yeo, CFA, explain the transfer pricing (TP) implications of this transition across Asia.
Key lessons from Nigeria’s first transfer pricing case Udo Abarikwu, group transfer pricing manager at Tropical General Investments (TGI) Group, looks at how Nigeria’s first TP case will impact future judgments and audits.
Five ways to make the most of the path to partnership Jessica Kemp, tax partner at Travers Smith, talks about the five things that helped her on her path to partnership and gives practical hints and tips on how best to make the most of your skill set.
Nigeria must optimise VAT revenue for sustainable economic growth Gbenga Oyebode Falana, tax consultant and former head of tax at Cadbury’s in Nigeria, explains why the government must reform VAT administration and introduce e-filing to create efficiencies in the Federal Inland Revenue Service (FIRS).
Diversity and inclusion: Embracing a ‘not like us’ vision Giles Parsons explains why tax executives need to get out of their bubbles to diversify their teams based on education, experience and national origin if they want to be truly diverse and inclusive.
Chilean 2020 tax reform: Modernising the tax system The Chilean government is embarking on a new tax reform in its latest bid to modernise the tax system. PwC Partner Loreto Pelegrí and PwC Tax Manager Bernardita Parodi explore the plans.
Achieving tax compliance: Learning from four decades of US state tax administration Daniel Hassell, secretary of revenue, and Kevin Milligan, special advisor to the deputy secretary for taxation, at the Pennsylvania Department of Revenue share their four decades of experience and predict the future of US state tax compliance.
Asia-Pacific’s response to the proposed OECD reforms David Watkins and Daljit Kaur of Deloitte consider some of the potential impacts of the OECD’s work relating to tax challenges arising from the digitalisation of the economy in the Asia-Pacific region.
Excise tax in the GCC: Overview and practical considerations The GCC has made tax reform the key to its plans for a post-oil future. Here, Mohamed Faycal Charfeddine, group head of tax at the Aujan Group, assesses the rollout of excise tax.
Suppliers adapt to achieve VAT benefits of EU call-off stock rules Companies are changing the way they manage call-off stock, supply chains, transportation documents and VAT identification to ensure they can benefit from the EU’s VAT “quick fixes”.
US FDII is still too complex to claim, say companies Taxpayers are having to go to “extreme lengths” to claim the foreign derived intangible income (FDII) deduction under US tax rules. One tax director at a medical device company talks to ITR about the challenges.
India delays mandatory e-invoicing With only a couple of weeks until the initial deadline for mandatory e-invoicing, India’s GST Council has decided to postpone the compliance measure for six months.
Coronavirus disrupts corporate reporting and compliance Tax professionals say coronavirus disruptions are having a material impact on corporate transfer pricing (TP) documents such as the functional analysis where significant adjustments can lead to disputes.
Tax Relief Because tax doesn’t have to be taxing. A less-than-serious look back at some of the quirkier tax stories from the past month.
Luxembourg: VAT and customs in a post-Brexit era Christian Deglas and Michel Lambion of Deloitte Luxembourg set out how tax leaders from international businesses must approach VAT and customs in a post-Brexit era.
Switzerland: New rules on inter-cantonal tax allocation established Daniel Stutzmann and Manuel Angehrn of Deloitte Switzerland consider how the Swiss tax reform has led Swiss cantons to move towards a ‘function-based’ tax approach.
India: Amending the tax framework to move towards a digital economy Sandeep Bhalla and Prashant Bhojwani of Dhruva Advisors discuss how a range of Indian tax laws are evolving to cater to an increasingly digitalised economy.
Australia: The Australian Taxation Office makes a proactive start to 2020 Jun Au of DLA Piper Australia provides a round-up of the most prominent tax-related developments from the beginning of the new decade.
Netherlands: The documentation requirements of ATAD II in the Netherlands explained Jian-Cheng Ku and Rhys Bane of DLA Piper explain how the Netherlands have approached the documentation requirement introduced by the implementation of ATAD II
Greece: Reshaping the joint liability of a company’s tax debts Eleanna Kamperi of EY Greece explains the new tax rules reshaping the joint liability of a company’s management and shareholders for tax debts owned by the company.
Spain: Analysing new bills on digital services and financial transactions Álvaro de la Cueva and José Carlos Ruiz of Garrigues open up on the provisions of two new bills which are commencing passage through parliament.
Italy: Understanding the ‘subject-to-tax’ requirement in the PSD Gianluca Nieddu and Barbara Scampuddu of Hager & Partners analyse recent Supreme Court decisions and explain why it seems clear that EU holding company structures are facing significant challenges.
The further development of the Russian anti-abuse tax practice Dmitry Garaev of KPMG Russia discusses how the understanding around tax anti-abuse provisions continues to evolve through contrasting approaches from the judiciary and the legislators.
Swedish case highlights challenges of attributing intangible-related profits Maria Andersson and Karolina Viberg of KPMG Sweden analyse a judgment delivered by the Administrative Court of Stockholm which sheds some light on the STA’s view on economic ownership of intangibles and DEMPE functions.
Poland: The difficulty of applying withholding tax exemptions for corporate dividend recipients Monika Marta Dziedzic of MDDP shares how shareholders will find it increasingly difficult when applying for Polish dividend withholding tax refund requests.
Germany: The changing model of group financing centres Yves Hervé, Philip de Homont and Georg Dettmann of NERA Economic Consulting discuss how financing centres are coming under extra pressure.
Argentina: Government moves to strengthen bilateral treaties Ignacio Rodríguez and Juan Manuel Magadan of PwC Argentina discuss how the Argentine government has actively pursued to expand its treaty network.
Chile: Tax modernisation bill introduces changes on transfer pricing compliance Roberto Carlos Rivas and Carolina Céspedes Lacombe of PwC Chile explain how Chile's transfer pricing laws are converging towards the global model.
European Union: The revival of public CbCR amid new interest in ESG transparency Bob van der Made of PwC explains why there has been a recent upsurge in conversations about public country-by-country reporting (CbCR) in Europe and the US, and how COVID-19 may be changing the game.
New Zealand: Inland Revenue proposes retrospective amendments to tax treatment of crypto-assets Brendan Brown and Alex Ladyman of Russell McVeagh outline how the New Zealand tax authorities are proposing to clarify aspects of the income tax and goods and services tax treatment of transactions involving crypto-assets.
Malta: An attractive solution for UK companies post-Brexit Ramona Azzopardi, Gaby Zammit and Andrew Padovani of WH Partners look at the opportunities for UK financial services companies to use Malta as their European base following their exit from the EU.
China: The government continues efforts to stimulate economy Lewis Lu of KPMG sets out how China has taken a proactive stance to avoid the harsh financial implications of the COVID-19 outbreak.
Hong Kong: Concessionary tax regimes introduced for ship leasing activities Lewis Lu and John Timpany of KPMG analyse the proposed concessionary tax regimes for qualifying ship lessors and leasing managers.
Mexico: The subcontracting conundrum Mauricio Martínez D´Meza Violante, Ricardo Gonzalez Orta and Gerardo García Franco of Deloitte Mexico discuss how labour laws related to subcontracting in Mexico are set to undergo an evolution, which will create a knock-on effect for tax issues.
