BEPS | Jotup

EY spokespeople available for federal budget insights and commentary

Retrieved on:

Monday, April 1, 2024

Carbon, Pillar, BEPS, Climate change, Legislation, Environment, Carbon tax, EDT, Food, EY, Science, OECD, Housing, Digital goods, G20, Government, Movement, Oil

Fred O'Riordan , National Tax Policy Leader, EY Canada and Stéphane Leblanc , Tax Partner, EY Private will be attending the budget lock up on Tuesday, April 16 and are able to provide direct insights on the federal budget and its impact on Canadian citizens and businesses.

Key Points:

Fred O'Riordan , National Tax Policy Leader, EY Canada and Stéphane Leblanc , Tax Partner, EY Private will be attending the budget lock up on Tuesday, April 16 and are able to provide direct insights on the federal budget and its impact on Canadian citizens and businesses.
They will also be hosting a webcast that evening at 6:30 pm EDT to share insights into what was covered.
Additionally, EY business subject matter experts are available to provide insights.
Dr. Lance Mortlock , Managing Partner, Energy EY Canada
Terry McKay – Oil and Gas Leader, EY Canada
Legislation changes around open banking, financial services and cryptocurrency
To learn more about the Canadian federal, provincial and territorial budgets or explore EY's Tax Alerts, click here .

KPMG LLP Secures New Transfer Pricing Patent Within AI-Powered Tool

Retrieved on:

Wednesday, February 21, 2024

Pillar, Transfer, Artificial intelligence, Patent, Comparables, Director of National Parks, KPMG LLP, BEPS, Benchmarking, Bank statement, KPMG, Risk management

KPMG LLP, the audit, tax and advisory firm, is using its newly awarded US Patent No.

Key Points:

KPMG LLP, the audit, tax and advisory firm, is using its newly awarded US Patent No.
11,720,842, "System and Method for Identifying Comparables" (the '842 Patent), together with artificial intelligence (AI), to help companies remain compliant and ultimately protect them from potential tax audits.
Transfer pricing benchmarking is a critical step in helping MNEs comply with transfer pricing rules and regulations - one that includes the review of hundreds of business descriptions and financial statements to compile a list of companies with comparable sets of data.
The KPMG patent enhances this historically tedious and error-prone process by leveraging AI to automate and mine the data, reducing the number of discrepancies, tax authority audits, controversies and potential fines.

Wolters Kluwer launches new solution to empower multinational enterprises to meet their OECD Pillar Two reporting requirements

Retrieved on:

Sunday, July 9, 2023

Country by Country Reporting (CbCR): The platform’s CbCR and global tax provision modules can provide end-to-end management of Pillar Two, interconnecting key tax processes with the data and reporting needs of Pillar Two.

Key Points:

Country by Country Reporting (CbCR): The platform’s CbCR and global tax provision modules can provide end-to-end management of Pillar Two, interconnecting key tax processes with the data and reporting needs of Pillar Two.
Templated Pillar Two Calculation and Schedules: Helps provide precise Pillar Two reporting in an efficient manner, eliminating data integrity challenges and manual management of the Pillar Two calculations.
With multinational enterprises facing increasingly complex reporting obligations, Wolters Kluwer recognises the need for an innovative tool that allows for timely adaptation, simplifies processes, increases the efficiency of multinational tax teams, and unleashes greater potential for growth.
What we have today is just the beginning with more on our Pillar Two roadmap to come.”

Highlights - INI report on "Further Reform of Corporate Taxation Rules" - Subcommittee on Tax Matters

Retrieved on:

Wednesday, June 21, 2023

Pillar, Commission, Compliance, OECD, BEPS, FISC, EU

INI report on "Further Reform of Corporate Taxation Rules"

Key Points:

INI report on "Further Reform of Corporate Taxation Rules"
On 27 June 2023, the rapporteur for the own-initiative report on "Further Reform of Corporate Taxation Rules" will present and discuss her draft report with other FISC Members.
In October 2021, the OECD/G20 Inclusive Framework on BEPS reached a landmark agreement on a comprehensive two-pillar reform of global tax rules.
The draft report highlights the compliance costs imposed on businesses due to existing EU tax legislation.
The draft report further suggests that tax breaks and other incentives should be considered to support the competitiveness of European businesses.

Greater Washington Community Foundation Announces Over $12.5M in Health Advocacy, Policy, and Systems Change Support

Retrieved on:

Tuesday, June 13, 2023

Other Policy Issues, Environmental, Social and Governance (ESG), LGBTQ+, Public Policy, Government, Fund Raising, Foundation, Other Health, Other Philanthropy, People with Disabilities, Other Consumer, Women, Mental Health, Seniors, Law Enforcement, Emergency Services, Healthcare Reform, Hospitals, Health Insurance, Men, Fitness & Nutrition, General Health, Family, Consumer, Social Activism, Parenting, Advocacy Group Opinion, Health, Communications, DEI (Diversity, Equity and Inclusion), Professional Services, Lifestyle, Philanthropy, State, Local, Emerald, Anacostia, Partnership, Employment, Race (human categorization), Education, Community foundation, Policy, Health equity, Woman, Hospital, California Community Foundation, Multimedia, Washington metropolitan area, Greater Washington Community Foundation, CareFirst BlueCross BlueShield, Organization, BEPS, Community, Tonia, La Clinica del Pueblo, BIPOC, Security (finance), HEF, Memorandum, Blue Cross Blue Shield Association, Nursing, Risk management

Today, the Greater Washington Community Foundation awarded more than $12.5 million in Health Equity Fund grants to 14 DC-based nonprofits working on health advocacy, policy, and systems change initiatives that address the social and structural determinants of health.

Key Points:

Today, the Greater Washington Community Foundation awarded more than $12.5 million in Health Equity Fund grants to 14 DC-based nonprofits working on health advocacy, policy, and systems change initiatives that address the social and structural determinants of health.
(Photo: Robert Ambrose/The Greater Washington Community Foundation)
“We know that 80% of DC’s health outcomes are driven by social, structural, and economic factors, with clinical care accounting for only 20%,” said Tonia Wellons, President & CEO of the Greater Washington Community Foundation.
In future rounds of funding, the Greater Washington Community Foundation plans to invest in health innovation.
The Greater Washington Community Foundation reviews and approves proposals and oversees how the funds are invested.

insightsoftware Announces Evolution of Longview Tax for BEPS 2.0 Pillar Two Support

Retrieved on:

Wednesday, May 31, 2023

insightsoftware , a global provider of reporting, analytics, and performance management solutions, today announced the evolution of Longview Tax with capabilities for BEPS 2.0 Pillar Two.

Key Points:

insightsoftware , a global provider of reporting, analytics, and performance management solutions, today announced the evolution of Longview Tax with capabilities for BEPS 2.0 Pillar Two.
The all-in-one tax solution enables organizations to confidently meet BEPS 2.0 Pillar Two requirements, improving financial planning with consistent, correct tax payments and reliable tax forecasting.
Longview Tax Demo : showcases how enterprises can achieve fast, accurate, centralized, and comprehensive Pillar Two management with a single, integrated, best-in-class solution.
Webinar with insightsoftware and KPMG highlights the business case for transforming tax processes and systems to deliver what is required for Pillar Two.

Richard Collier and Ian Dykes win the 9th IBFD Frans Vanistendael Award

Retrieved on:

Friday, May 12, 2023

Transfer, International taxation, OECD, BEPS, BEPS 2.0, Bulletin, Risk, Risk management

Collier and Dykes were announced the winners at a ceremony that took place today.

Key Points:

Collier and Dykes were announced the winners at a ceremony that took place today.
The winning article was titled “On the Apparent Widespread Misapplication of the OECD Transfer Pricing Guidelines” and published by IBFD in volume 76, issue 1 of the Bulletin for International Taxation.
Richard Collier and Ian Dykes present an important analysis examining the risk and other aspects of transfer pricing guidelines around the world outside income allocation and BEPS 2.0.
For these reasons, the jury concluded that the article deserved to win the award, which was personally presented by Rosa Vanistendael, the widow of Frans Vanistendael.

Corvias Infrastructure Solutions (CIS) Names David Washington, PMP as Director of Portfolio Finance Operations

Retrieved on:

Wednesday, May 10, 2023

Corvias Infrastructure Solutions, LLC (CIS), a national leader in the development and implementation of public infrastructure solutions, announced today that David Washington has re-joined the company.

Key Points:

Corvias Infrastructure Solutions, LLC (CIS), a national leader in the development and implementation of public infrastructure solutions, announced today that David Washington has re-joined the company.
In this capacity, Washington will oversee financial operations across its portfolio, continuing CIS’ commitment to community-based partnerships that focus on green infrastructure solutions and spur economic development.
View the full release here: https://www.businesswire.com/news/home/20230510005918/en/
As Director of Portfolio Finance Operations for Corvias Infrastructure Solutions, David Washington will oversee financial operations across its portfolio.
“David is an incredible asset to bring back to CIS,” said Sanjiv Sinha, Ph.D., P.E., Chief Executive Officer for CIS.

insightsoftware Wins Dresner Technology Innovation Award for Financial Consolidation, Close Management, and Reporting

Retrieved on:

Wednesday, February 15, 2023

insightsoftware , a global provider of reporting, analytics, and performance management solutions, today announced it has been named a winner for Financial Consolidation, Close Management, and Reporting in the 2022 Technology Innovation Awards by Dresner Advisory Services .

Key Points:

insightsoftware , a global provider of reporting, analytics, and performance management solutions, today announced it has been named a winner for Financial Consolidation, Close Management, and Reporting in the 2022 Technology Innovation Awards by Dresner Advisory Services .
All this while organizations are becoming more and more complex from a data, systems, and reporting perspective,” said Jamie Eagan, VP, Product Management at insightsoftware.
The annual Dresner Technology Innovation Awards recognize top-ranked vendors from Dresner’s Wisdom of Crowds® thematic market studies.
“Congratulations to insightsoftware on receiving a 2022 Technology Innovation Award for its Financial Consolidation, Close Management, and Reporting offering," said Howard Dresner, Founder and Chief Research Officer at Dresner Advisory Services.

KPMG POISED TO CAPITALIZE ON INCREASED DEMAND FOR OUTSOURCING CORPORATE TAX DEPARTMENTS

Retrieved on:

Thursday, January 26, 2023

KPMG, BEPS, Growth, ESG, Operational technology, KPMG LLP, Organization, OECD, Management, Renewable energy

NEW YORK, Jan. 26, 2023 /PRNewswire/ -- According to the tax, audit and advisory firm's fourth annual KPMG LLP "Chief Tax Officer Outlook," Chief Tax Officers are increasingly turning to outsourcing, co-sourcing and managed services models to help them survive and thrive. Additionally, nearly half (49 percent) have begun to leverage third-party tax technology providers, and over half (52 percent) have plans to address current and future talent retention issues by adopting these models.

Key Points:

"The change that Chief Tax Officers must grapple with is rapid, relentless, and coming from all directions," said Greg Engel (@Greg_Engel_KPMG), Vice Chair – Tax at KPMG LLP.
"It makes perfect sense for CTOs to ramp up their interest in outsourcing models given the current economic, regulatory and talent environment.
Outsourcing provides in-house organizations with the advantage of added resources, a reduction in costs over time, increased efficiencies, and the ability to free up talent from executing tedious compliance tasks often involved in running a corporate tax department.
"Deploying the right technology in a corporate tax department is make-or-break in an ultra-competitive market," said Rema Serafi (@RemaSerafi), National Managing Partner – Tax at KPMG LLP.