Artificial intelligence (AI) and machine learning (ML) offer substantial cost-saving potential in nearly every sector of the global economy. There is no doubt that AI is rapidly gaining traction in…
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Reimagining Global Taxation: Voices from the Frontlines of Global Minimum Tax Transformation
As Pillar Two reshapes the international tax landscape, Thomson Reuters explores how multinational enterprises (MNEs) across Asia Pacific and the Middle East are responding to one of the most significant…
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Pillar Two: What it means for non-US headquartered multinationals
The G7’s announcement regarding a potential exemption for some US-based multinationals from certain aspects of Pillar Two has made waves, but what does it mean for large multinationals headquartered in…
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President Trump’s tariffs: What tax and accounting professionals should know
The Trump administration made headlines with its imposition of additional tariffs on goods from various countries, including China, Mexico, and Canada. These tariffs, essentially taxes on imported goods, sent ripples…
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Transforming Indirect Tax Processes for Enhanced Efficiency and Compliance
External disruption has heightened the complexity of the indirect tax function, putting deadlines at risk. Priorities are changing quickly for indirect tax teams, especially with governments moving towards real-time reporting.…
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How indirect tax impacts your manufacturing power
In the complex manufacturing world, managing indirect taxes can be a daunting task fraught with potential pitfalls and substantial financial risks. Our white paper for tax professionals in the manufacturing…
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Leveraging the Orbitax Global Minimum Tax Solution for BEPS Pillar Two in a Co-Sourced Model
The implementation of BEPS (Base Erosion and Profit Shifting) Pillar Two brings significant challenges for multinational enterprises (MNEs) navigating the global minimum tax rules. Unlike traditional outsourcing models, where compliance…
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October 2024: BEPS Pillar 2 Highlights
European Union-Cyprus-Poland-Portugal-Spain European Commission Refers Cyprus, Poland, Portugal, and Spain to CJEU for Failure to Notify Transposition of Pillar 2 Directive (approved) The European Commission has announced its referral of Cyprus, Poland,…
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September 2024: BEPS Pillar 2 Highlights
Belgium Accepting Advance Payments for Pillar 2 Global Minimum Tax (Approved) Belgium’s Federal Public Service (SPF) Finance has issued a release announcing that MNE groups subject to the Pillar 2 global minimum…
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Challenges and changes in indirect tax and compliance
The world of indirect tax compliance is a battleground. Ever-changing regulations, resource constraints, and the need for efficiency leave businesses struggling. Based on a Thomson Reuters survey of 180 indirect…
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