Mark Kennedy’s Post

Want to know the latest on EU Public Country by Country tax reporting ....Our tracker offers a comprehensive overview of the Regulation across the 27 individual EU member states, including where the local reporting and filing requirements as well as available exemptions and deferrals, often diverge from the EU Directive #EU #Tax #pCbCR https://lnkd.in/ehn8wtP9

Join Grant Thornton leaders David Sandison, Paul Cornelius, Richa Sawhney, and Sasha Kerins for a critical update on the OECD's Pillar 2 Global Minimum Tax initiative. As the global adoption of this new tax regime accelerates, organizations are in search of practical and effective strategies to ensure compliance and readiness. Our experts will provide key insights into the latest developments from the OECD and local tax authorities, as well as discuss the common challenges that businesses are encountering with Pillar 2. Don't miss this chance to gain valuable perspectives and stay ahead in navigating the complexities of this evolving tax landscape. Register below https://lnkd.in/gt9dw6CV #OECD #Pillar2 #GlobalTax #TaxCompliance

Worth registering for this Pillar 2 Update session being hosted by Grant Thornton International tax experts next week including Murat Cihanger from our Australian team. A great way to get across the complexities of the new landscape. 11 SEP 2024 | 6:00 PM - 8:00 PM AEST | 5:30 PM - 7:30 PM ACST | 4:00 PM - 6:00 PM AWST Register now on the link in the post below. #pillar2 #OECD #taxation #globaltax

European Business Initiative on Taxation (EBIT) MNE business tax practitioners’ (across industries) feedback to the European Commission on the upcoming Review of the implementation of Council Directive (EU) 2017/1852 on tax dispute resolution mechanisms in the EU. now available on: https://lnkd.in/eYGKJ29e #EU #businesstax #eubusinesstax #tax #taxpolicy #internationaltaxation #directtax #taxdisputeresolution #disputeresolution

Join myself and Grant Thornton leaders worldwide David Sandison, Paul Cornelius, Richa Sawhney and Sasha Kerins for an update on OECD’s Pillar 2 Global Minimum Tax project. As global adoption gains momentum, organisations are seeking practical and efficient strategies to prepare for and comply with this transformative tax regime. Our experts will share valuable perspectives on the common challenges organisations face with Pillar 2, along with recent developments from the OECD and local taxing authorities. Gain meaningful insights to navigate the complexities of this new tax landscape. Don't miss this opportunity to stay ahead of the curve Register Below https://lnkd.in/gXdtDneY #OECD #Pillar2 #GlobalTax #TaxCompliance

We welcome that the Australian Parliament has approved a law setting some of the most stringent #taxtransparency rules in the world – requiring large companies to publicly disclose country-by-country reporting on tax (#CbCr) 👏 The new rules explicitly require consistency with the disclosures in #GRI207, the global best practice for organization’s to report their #tax practices and contributions, in the markets & communities where they operate 🌏👨👨👧👧 We strongly encourage other regulators to mandate GRI 207 in tax transparency policies. Given a quarter of the largest businesses worldwide use our Tax Standard, and 72% of major companies in Australia are GRI reporters, the move reinforces the position of GRI 207 and our standards as the blueprint for companies to deliver measurable impact 💡 Want to know more? Download our Tax Standard 🧾 for free! https://lnkd.in/e_GQG2Dq #taxreporting #sustainabilityreporting #corporatetransparency #communitybenefit #riskmanagement

My colleagues Charles Yorke and Brin Rajathurai have penned an insightful article in Tax Journal, highlighting the evolving landscape of tax in the context of Environmental, Social, and Governance (ESG) criteria. As in-house Heads of Tax, it's crucial to integrate tax considerations into the broader ESG strategy of your organization. The introduction of taxes on plastic packaging and the alignment of fuel and aviation duties with emissions underscore the need for a cross-functional approach to manage additional tax costs and their impact on business models and supply chains. Moreover, non-tax ESG policies, such as hybrid working models, can have significant tax implications, affecting company tax residence, permanent establishment risk, and employment taxes. Proactive involvement in ESG policy-making and ensuring alignment with the group's tax strategy can mitigate risks and enhance the group's reputation. Articulating a tax strategy is not only a legal requirement in some jurisdictions but also serves as a testament to the group's commitment to responsible tax conduct. It can be a differentiator in the market, as seen with the Fair Tax Mark and the B-Team's Responsible Tax Principles. Avoiding 'tax greenwashing' is imperative; the group's actions must reflect its published tax policy to maintain credibility and avoid reputational damage. Good tax governance is essential for compliance and can lead to benefits such as simplified tax audits and cooperative relationships with tax authorities. Understanding and fulfilling legal requirements, adopting best practices, and staying abreast of changes in tax law are key to maintaining robust tax governance. Lastly, tax transparency is becoming increasingly important for building trust and meeting ESG goals. With the rise of mandatory and voluntary tax reporting requirements, it's vital to have the right systems and expertise to manage and analyze tax data effectively. This transparency can influence investor, consumer, and talent decisions, making a responsible tax approach a critical factor in the group's overall success.

I am really quite proud to feature on the front cover of this week's Tax Journal alongside my colleague Charles Yorke discussing a topic that I personally think is essential to factor in to decision-making nowadays: ESG, and how it intersects with tax. In our article we provide our guide to Tax and ESG, focusing on the key practical considerations for in-house Heads of Tax. With many thanks to Paul Stainforth for the invitation to contribute. The link is in the comments below for those who would like to read the piece (and is free to view even for non-subscribers if you register with the Tax Journal website). 👇 #allenoveryglobaltax #ESGTax #sustainability #TaxJournal

Given the increased attention on legislative, regulatory and public transparency in tax reporting, ESG is becoming an increasing priority for all businesses. Does your tax and finance team have an active seat at the table to drive a holistic approach to ESG matters, inclusive of important tax considerations such as tax transparency, total tax contribution and the effective tax rate? #PillarTwoBanking #BEPSFS

Integrating economic and social impacts into the tax strategy reflects an organisation’s commitment to considering the broader implications of its actions beyond mere financial gains. Learn more in PwC Ireland's latest Tax Transparency Report.