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AI can assist in accounting, auditing, assurance, forecasting, and tax โ and accountants need to understand the cybersecurity, privacy, and ethics issues, too.
IESBAโs standards, set to take effect in July 2025, are intended to strengthen the ethical framework that guides professional accountants providing tax planning services.
CIMAโs Spring Budget submission makes recommendations for addressing a โrutโ that includes โstagnating living standardsโ and low economic growth.
The 15% rate applies to multinational companies active in EU member states; the European Commission says Pillar Two rules limit a โrace to the bottomโ in tax rates.
The UK government plans to provide relief measures, including raising National Insurance thresholds in line with income tax, as a relief to taxpayers in difficult economic times.
The OECD acknowledged that companies could continue to benefit from profit-shifting strategies already in place but expects companies to be unable to build up such tax shields in the future.
The Chancellor of the Exchequer Rishi Sunak announced an increase in public spending on R&D to ยฃ20 billion a year by 2024 and a total ยฃ3.8 billion increase in skills spending.
After years of difficult negotiations, an OECD-brokered deal to update international corporate tax rules has the support of all OECD countries and is closer to becoming reality.
Finance ministers for the G7 reached an agreement on Saturday supporting a global minimum tax rate of at least 15%. Hereโs how it would work and what might happen next.
The EU General Court overturned a European Commission order that would have required Amazon to pay about โฌ250 million in back taxes, dealing another setback to the commissionโs crusade against preferential state aid deals.