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4 international tax planning strategies for global companies

ThomsonReuters

Corporate international tax planning is a major challenge for companies that do business in multiple countries. To be aware of pitfalls such as international double taxation — being taxed for the same income in two different countries — they must plan strategically.

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Exploring key 2024 tax bill proposals

ThomsonReuters

Under this act, if a corporation’s CEO or highest-paid employee’s compensation exceeds 50 times the median worker’s pay, the corporate tax rate would be increased by a penalty determined by the legislation. Firms must prepare for potential shifts in tax liabilities and advise clients accordingly.

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Transforming together: The importance of building a strategic partnership between IT and indirect tax

ThomsonReuters

.” Tax departments typically realize the greatest efficiencies from automating IDT calculations and other routine functions, because automation: Improves compliance with tax regulations that require immediate transfers of indirect tax data.

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The tortured journey of data: How tax technology speeds up tax compliance, provision, and reporting

ThomsonReuters

According to the “2023 State of the Corporate Tax Department” report by Thomson Reuters Institute, it is unsurprising that the primary objectives of corporate tax departments for the upcoming year, as indicated by 70% of respondents, revolve around enhancing operational efficiency. The time to act is now.