Tax & Accounting Blog

Understanding BEPS Country-by-Country Reporting (CbCR)—and Why Technology is Critical for Compliance

Understanding BEPS Country-by-Country Reporting (CbCR)—and Why Technology is Critical for Compliance

The global tax environment is undergoing a significant amount of disruption, as new regulations are transforming how companies conduct business across borders. One major example of this disruption is manifest in the rise of the Base Erosion and Profit Shifting (BEPS) Action Plan set forth by the Organisation for Economic Co-operation and Development (OECD). Read More

Compliance, reputational risk, and tax transparency

Compliance, reputational risk, and tax transparency

Whatever the forces are that have been promoting the benefits of tax transparency, they seem to be proving successful. Most respondents (53%) to our recent Thomson Reuters ONESOURCE survey said they think non-compliance with global regulations to promote tax transparency and curb tax avoidance can affect their institution’s reputation. These respondents were largely C-level executives … Read More

In the Shadow of the Panama Papers, US Seeks to Address Weaknesses in Financial Transparency

In the Shadow of the Panama Papers, US Seeks to Address Weaknesses in Financial Transparency

One month! On May 5, just 32 days after the Panama Papers leaked the identities of shareholders and directors of over 200,000 companies by the Panamanian law firm Mossack Fonesca, the White House signaled their intent to introduce regulations that would provide greater transparency and sharing of data. In a letter from the U.S. Secretary … Read More