Globalisation and company growth ambitions are driving an increase in M&A activity worldwide. We work with entrepreneurial businesses in the mid-market to help them assess the true commercial potential of their planned acquisition and understand how the purchase might serve their longer- term strategic goals.
The International Financial Reporting Standards (IFRS) are a set of global accounting standards developed by the International Accounting Standards Board (IASB) for the preparation of public company financial statements. At Grant Thornton, our IFRS advisers can help you navigate the complexity of financial reporting from IFRS 1 to IFRS 17 and IAS 1 to IAS 41.
Significant changes to the dynamic of the financial services sector in recent years have shifted the paradigms in how we work. The increased digitisation of the workforce, changes in business models, globalisation, and remote working capabilities have led to a new approach to the delivery of services.
We round-up the progress on implementation in a selection of leading economies worldwide. We also look at the impact on businesses, likely go live timings and what could potentially delay or derail the process.
Guidance on safe harbours and penalty relief; Public consultation document on the Global Anti-Base Erosion (GloBE) information return; and Public consultation document on tax certainty for the GloBE Rules, released as part of the OECD long-anticipated implementation package for Pillar 2.
Given the need to find out how much the tax bill could rise under Pillar 2 and with the compliance demands likely to put systems under severe strain, the case for getting preparations underway is compelling.
While the COVID-19 pandemic may be loosening its grip on the American economy, U.S. multinational companies are still tackling new challenges like inflationary forces, recessions rippling across Europe, and further market pressures across their supply chains.
The EU Mandatory Disclosure Directive (DAC6) requires taxpayers, advisors and intermediaries to release details of “potentially aggressive” cross-border tax planning arrangements. A number of non-EU jurisdictions could eventually bring in comparable reporting requirements in line with the BEPS accords.