From the sources you trust

Stay up to date

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 to reform international tax rules on the digitalisation of the economy has two pillars. The first pillar was designed to find a more equitable way ...
READ MORE

Taking the communications path to CFO

From CFO Dive: CFO and board professional Jennifer Ceran tackled her biggest problem — communications — early on so she could leverage the math skills that came naturally to her. Jennifer Ceran knew she wanted to go into business, which is why she majored in communications as a college undergraduate. “I felt comfortable with numbers, but I was shy and didn’t like public speaking,” Ceran, a former CFO who today sits on the boards of five companies, including NerdWallet, said ...
READ MORE

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 at the Institute of Cost Accountants of India, in the interview below, discussed the role of cost and management accountants (CMAs) in pandemic. There is ...
READ MORE

New EU VAT Rules Enter Into Force

The new rules concerning the EU VAT regime entered into force on the 1 July, creating a simplified VAT regime for cross-border supplies of goods (B2C) and distance sales. The new rules provide for a system to declare and pay VAT in the EU using the Import One-Stop Shop and also level the playing field between EU businesses and non-EU sellers. Online sellers, including online marketplaces and platforms can now register in one EU Member State and this will be valid for the declaration and payment of ...
READ MORE

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 year will be reallocated to the market jurisdictions, under the rules agreed in Pillar One. Companies within scope include the largest MNEs with global turnover above 20 ...
READ MORE

4 ways to slash overhead costs in the new normal

From Cfodailynews: Your team has clear insight into the financials that can help your company uncover new ways to save. Take overhead costs, for example. Finance staffers see all the bills that come in for things like rents and leases, electricity costs, office supplies and maintenance. And as their role transforms from a back-office function to a strategic business partner, staffers can better use that insight to lower overhead costs. Check out four tips, inspired by the finance pros at Stampli, that ...
READ MORE

Finance Chiefs Weigh the Impact, and the Odds, of a Global Minimum Tax

From WSJ: Multinational companies are calculating the potential costs of tax changes while awaiting more details. Finance executives at multinational companies are trying to assess the potential implications of a global minimum tax for their businesses, with many of them skeptical whether the plan will come to fruition anytime soon. The U.S. earlier this month won international support for a global minimum corporate tax, which stipulates that companies based in the 130 participating countries pay a tax rate of at least ...
READ MORE

The Return of the Finance Talent War

By John Touey, at Cfo.com: If an organization doesn’t have a model responsive to employees’ new expectations, current team members may leave for a firm that does. Senior executive hiring has returned at an increased pace over pre-pandemic levels in recent months. Pent-up demand, stimulus-induced growth, and less-than-predicted economic damage have many organizations aggressively seeking to bring in new leadership talent. This year is already among the top five years of recruitment activity I have observed in a 20-year executive ...
READ MORE

US gains support for 15% minimum global corporate tax from 130 countries

From CFO Dive:
  • The (US) Joe Biden administration gained support from 130 countries to set a minimum global corporate tax of 15% aimed at ending “international tax competition,” curtailing billions of dollars in tax avoidance and shoring up revenues for ambitious federal programs.
  • The pledge by members of the Group of 20 nations and dozens of other countries followed negotiations led by the Organization for Economic Cooperation and Development (OECD). China, Russia and India had previously withheld support for ...
    READ MORE

New head of global accounting rule-maker expected to zero in on technical details

From WSJ: Andreas Barckow on Thursday succeeded Hans Hoogervorst as chairman of the International Accounting Standards Board. The International Accounting Standards Board on Thursday got a new leader after a decade in which the standard-setter expanded its reach to more countries and implemented several key rule changes. Andreas Barckow, an accountant who had served as president of the Accounting Standards Committee of Germany until February and who formally took over the role of chairman of the IASB this month, is ...
READ MORE

EU: Addressing the debt–equity tax bias

The European Commission has published an inception impact assessment seeking feedback on the initiative to reduce the debt- equity tax bias in the EU, as part of the recent corporate tax reform proposal within the Communication for Business Taxation of the 21 Century. It is widely acknowledged in the academic literature that the debt-equity tax bias is highly distortive of investment decisions. Interest as a return on debt is tax planning efficient, whereas similar tax benefits are ordinarily not in place for equity investment. As a result, ...
READ MORE

“If It Is Legal, Is It Acceptable?” – an ethics quality discussion paper for all advisers

Against the backdrop of recent actions by governments and lawmakers, such as the G7 agreement on minimal global corporation tax and anti-tax avoidance initiatives of the EU, CFE has issued a discussion paper founded on its commitment to high professional standards in tax advice seeking to promote ethical professional judgment across all tax advisers in Europe. While tax advisers play a valuable role in the proper functioning of tax systems, this role can be undermined by the promotion of abusive tax arrangements ...
READ MORE

OECD paper outlines ways to address wealth inequality through inheritance tax

By Prenisha Govender, Associate, Tax Practice, Baker McKenzie Johannesburg On 11 May 2021, the Organisation for Economic Co-operation and Development (OECD) published a report exploring the role of inheritance taxes in addressing the impact of wealth inequality in poorer countries. The publication of the report was motivated by high wealth inequalities across OECD countries and the economic pressures suffered internationally as a result of the COVID 19 pandemic. According to the OECD, inheritance taxation could be an important tool “to address ...
READ MORE

Gartner Says More CFOs Intend to Increase Digital Investment Than Any Other Area in FY21

CFOs plan to increase technology investments, with 82% saying they intend to increase investment in digital capabilities in fiscal year (FY) 2021 compared to FY20, according to survey by Gartner, Inc. The survey of 115 CFOs was conducted by Gartner between July – December 2020, and it also revealed that 70% of respondents intend to increase spend in information technology in this fiscal year. “As COVID-19 lockdowns were imposed, most finance organizations tried to digitize as many processes as possible ...
READ MORE

Are you
podcast
potential?

Tell your story on our
podcast

Follow CFO Talks

CFO Talks

Quick links

Address:
The Workspace at The Club
Cnr Pinaster Avenue and 18th Street
The Club Shopping Centre, Second Floor
Pretoria
South Africa

The Workspace
Melrose Arch
44 Melrose Boulevard
Birnam
Johannesburg
South Africa

Tel. 012-643-1800 |
Email. info@cfotalks.com

Scroll to Top