For this edition of Dividends, we explore the sometimes complex and challenging relationship between regulatory bodies and commercial entities. With the advent of greater focus on compliance and transparency, coupled with advances in taxation and reporting technology, it’s a brave new world for tax practitioners and the companies and clients they serve.
It was my pleasure to interview Porus Kaka, president of the International Fiscal Association (IFA) and to gain his views on double taxation, cross-border disputes, BEPS, transfer pricing, taxation in the digital economy and more. Mr. Kaka’s views are especially timely, given the conclusion of the recent IFA Congress in Madrid last month.
A centerpiece of our October edition of Dividends is focused on global trade management (GTM) and Thomson Reuters recent survey of GTM specialists from approximately 30 countries. With over 1,700 responses, we uncovered interesting trends concerning free trade agreements, tariff classification, supply chain integration and more. Taneli Ruda, managing director of Global Trade Management for Thomson Reuters Tax & Accounting, reports on the survey findings.
We also hear from Jon Baron, managing director of Tax & Accounting’s Professional business segment for Thomson Reuters. Jon shares his insights on building and keeping customer relationships the right way in an age where reputational risk abounds, thanks to social media. Other topics explored in this issue include cloud accounting, the automatic exchange of information, the UK’s Making Tax Digital campaign, IRS Future State, addressing informality in developing markets and the regulation of e-commerce.
Regulatory complexity is not just an issue faced by multinational enterprises; as I shared earlier this year, I believe we will see more mid-market companies adopting technology to enable tax compliance in areas such as e-invoicing, e-reporting, property tax administration, and sales and use tax administration. Advances in technology are empowering both regulators and commercial entities of all sizes.
As always, we welcome your comments and questions. Please send us an email at email@example.com and let us know your thoughts about technology as an answer for both regulation and commerce.
Read more from Dividends Magazine in the Know 360 app