-
Business consulting services
Our business consulting services can help you improve your operational performance and productivity, adding value throughout your growth life cycle.
-
Business process solutions
We can help you identify, understand and manage potential risks to safeguard your business and comply with regulatory requirements.
-
Business risk services
The relationship between a company and its auditor has changed. Organisations must understand and manage risk and seek an appropriate balance between risk and opportunities.
-
Cybersecurity
As organisations become increasingly dependent on digital technology, the opportunities for cyber criminals continue to grow.
-
Forensic and investigation services
At Grant Thornton, we have a wealth of knowledge in forensic services and can support you with issues such as dispute resolution, fraud and insurance claims.
-
Mergers and acquisitions
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.
-
Recovery and reorganisation
Workable solutions to maximise your value and deliver sustainable recovery
-
Transactional advisory services
We can support you throughout the transaction process – helping achieve the best possible outcome at the point of the transaction and in the longer term.
-
Valuations
We provide a wide range of services to recovery and reorganisation professionals, companies and their stakeholders.
-
IFRS
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.
-
Audit quality monitoring
Having a robust process of quality control is one of the most effective ways to guarantee we deliver high-quality services to our clients.
-
Global audit technology
We apply our global audit methodology through an integrated set of software tools known as the Voyager suite.
-
Corporate and business tax
Our trusted teams can prepare corporate tax files and ruling requests, support you with deferrals, accounting procedures and legitimate tax benefits.
-
Direct international tax
Our teams have in-depth knowledge of the relationship between domestic and international tax laws.
-
Global mobility services
Through our global organisation of member firms, we support both companies and individuals, providing insightful solutions to minimise the tax burden for both parties.
-
Indirect international tax
Using our finely tuned local knowledge, teams from our global organisation of member firms help you understand and comply with often complex and time-consuming regulations.
-
Innovation and investment incentives
Dynamic businesses must continually innovate to maintain competitiveness, evolve and grow. Valuable tax reliefs are available to support innovative activities, irrespective of your tax profile.
-
Private client services
Our solutions include dealing with emigration and tax mitigation on the income and capital growth of overseas assets.
-
Transfer pricing
The laws surrounding transfer pricing are becoming ever more complex, as tax affairs of multinational companies are facing scrutiny from media, regulators and the public
-
Tax policy
Tax policies are constantly evolving and there are a number of complex changes on the horizon that could significantly affect your business.
The practical impact of the OECD's recommendations and the key issues that should be on your radar as a tax function and head of tax.
It’s now that businesses should be critically appraising their current structures to make sure they are fit for purpose in the post BEPS environment. Heads of tax are facing headaches: divergences in domestic legislation, archaic tax authority dispute resolution mechanisms and an eagerness from tax authorities around the globe to ensure they collect their ‘fair share’ of tax.
This article looks at the practical impact of the OECD's recommendations and the key issues that should be on your radar as a tax function and
head of tax. We explore how to address these issues and the risks and opportunities they create. We also look at how the tax role within the business is likely to change and the opportunities that this presents.
The central challenge will be dealing with what will be marked variations in how the 15 actions are interpreted and the timing of implementation in the locations where your business operates.
Divergence is likely to be heightened by the fact that while there are some red lines that need to be consistently applied, the bulk of what’s been announced are recommendations rather than hard rules.
So will the BEPS recommendations bring clarity?
This patchwork of different local rules will clearly be an administrative challenge and the uncertainty is compounded by what will eventually be multiple compliance arrangements.
It could be a while before we see certainty over how the different actions will be applied in particular territories. Nonetheless, the question is how much change there will be, not least in what the business expects from its head of tax.
So what action needs to be taken?
- The BEPS Action Plan indicates that some operational restructuring and adjustments to transfer pricing may be required by businesses. But given the current uncertainty it would be beneficial to model the different outcomes and develop clear contingency plans rather than taking hasty action now.
- We believe that interest rate deduction is one of the grey areas where your tax teams should model the implications of different levels of deductions, and consider how to deal with the varying outcomes. However, it would be unwise to make wholesale changes before you know what fixed ratio each of the legislatures settles on.
- It’s vital that you identify any risks in how your CbC disclosures will be assessed in each jurisdiction and proactively prepare to defend potential threats.
- It’s important to provide your board and business teams with regular communications about how the BEPS recommendations will affect the business’ strategy and operations.
- Uncertainty over the final direction of BEPS and the wider tax regime will continue. But substance can’t be changed overnight. So it’s important to start planning any necessary relocation or restructuring as soon as you can.
Talk to your local firm about how Grant Thornton can help your organisation prepare for the requirements set out in the OECD's BEPS Action Plan.