Month: July 2021

From defense to offense: CFOs look to drive growth in a digital economy

From PwC: The pandemic has significantly impacted many aspects of finance — from closing the books remotely to near-constant scenario planning and shoring up supply chains. Faced with the need to be more agile and decision-ready, finance organizations are evaluating their processes and prioritizing key areas to deliver the outcomes they seek. Comprehensive and continuous planning …

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IRS’s 2021 ‘Dirty Dozen’ details top scams

From CFO Daily News: It’s that time again. IRS is warning business leaders and individuals about the top scams to look out for right now. This year, though, the Service did things a little differently. It separated the typical “Dirty Dozen” into four categories: pandemic-related scams personal information cons ruses focusing on unsuspecting victims, and schemes that …

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EU Commission publishes Anti-Money Laundering legislative package

From CFE Tax Advisers Europe: The European Commission has now published its Anti-Money Laundering legislative package, which will upgrade the existing EU anti-money laundering legislative (AML) framework. The package consists of four proposals, namely: A Regulation establishing a new EU AML/CFT Authority; A Regulation on AML/CFT, containing directly-applicable rules, including in the areas of Customer Due Diligence …

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A new global taxation regime is in the pipeline – start preparing now

By Karen Miller and Joon Chong from Webber Wentzel The recent agreement by 130 of the 139 countries participating in the OECD/G20 Inclusive Framework (IF) to implement the two-pillar package will result in a fundamental shift in the way international taxation has worked in the past. It “wipes the slate clean”. Background The IF solution …

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CMAs need to change from ‘Cost Accountants’ to ‘Value Accountants’: ICMAI Pres Biswarup Basu

From India Times: The role of CMAs in the changing world requires the need to re-skill the CMAs in high-end tools such as Activity Based Costing, Process-Based Costing, or target costing etc. There is a need to change the agile mindset – promote diversity in thinking and imbibe multi-disciplinary skills, he said. Biswarup Basu, President …

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130 Countries Sign Historic Agreement on International Tax Reform

From Tax Advisers Europe: 130 countries signed last week the global agreement on international tax reform, based on a two-pillar solution which allows multinational companies to pay more tax in the countries where they operate as well as a global minimum tax rate. As estimated by the OECD, a total amount of USD 100 billion of profits per …

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