After several years of negotiations, the European Council and European Parliament have reached political agreement on disclosure by multinational companies of the tax they pay in each country.
Grinding along in the background since 2016 have been a range of measures that seek to use disclosure mechanisms to rebalance various tax arrangements. This week the European Council has approved proposed measures to enhance corporate transparency of big multinational companies, as part of its action plan on reforms to the international corporate tax system.
In a talk at the 2018 IFBM Conference Professor Penelope Tuck, Birmingham University Business School, examined the role financial reporting plays in response to calls for increased transparency about the tax affairs of multinationals.
While the financial services sector has transformed dramatically in the last few decades, taking advantage of the technological power of the fourth industrial revolution, tax and regulation has been slow to catch up.
Learn how organisations around world are using new technologies and processes to both increase the efficiency and effectiveness of reporting programs whilst making data more useful and available.
Economic Development and Innovation Minister Mikael Damberg announced recently that the Swedish government is going to start pushing firms towards digital submission of financial reports, with the aim of making such practice mandatory in 2018.
The Australian Tax Office has begun transitioning preparers towards exclusive use of a new reporting channel that will further advance SBR in that country.
An in-depth look at Reporting 3.0 in Estonia from a presentation by Margus Tammeraja, Chairman of the Board at the Association of Estonian Accountants at the Real Time Economy Conference in Finland.
The Tax and Customs Administration of Estonia has committed to automated filing of payroll and personnel information by 1 January 2018.