Tax & Accounting

Corporate Tax | Trends
By replacing cascading sales taxes with a value-added tax (VAT), Africa has succeeded in lowering its total tax rate to 46.6% from a peak of 72.2% in 2005.

UK Corporate Tax | Trends
Britain likely will succeed in taxing multinational companies at a 25% rate on their UK operations beginning in April, without violating international tax treaties, analysts say, but tensions are rising between countries on suspicions that MNCs are engaging in global tax evasion.

George Osborne, Chancellor of the exchequer in the United Kingdom unveils the outline of a “Google tax”.

Capital Markets | Mergers & Acquisitions
Global cross-border mergers and acquisitions totaled $1.1 trillion during the first nine months of 2014, more than double the level of the same period a year earlier, according to Thomson Reuters.

MANAGEMENT | TAX PLANNING
When Congress returns following the November elections, the issue of what to do about US companies making foreign acquisitions to relocate overseas and save on taxes will be high on the agenda.

Global Finance sat down with Russell Golden, chairman of the Financial Accounting Standards Board, to discuss the current activities of the FASB—including its recently issued standard on revenue recognition, a joint effort with the International Accounting Standards Board (IASB).

Global Finance sat down with Brian Loughman, Fraud Investigation & Dispute Services (FIDS) Leader, EY Americas (formerly Ernst & Young), to discuss how greater regulation and increased efforts by countries to fight fraud are leading to greater demand for services by corporations around the world.

MANAGEMENT | TAX PLANNING
Gregory Wasson, president and CEO of Walgreen, says the company “concluded it was not in the best interest of shareholders to attempt to re-domicile outside the US” to cut its tax bill.

Our list of the Top 25 Global Public Companies By Cash On Balance Sheet.

FINANCE & CAPITAL | MANAGEMENT: Accounting

CORPORATE FINANCING NEWS | MERGERS & ACQUISITIONS

Recent economic reforms in Mexico and upgrades by rating agencies have strengthened Mexico’s position in global markets. The country’s economic performance is improving as well.

Sri Lanka has an open business environment, but challenges—not least its recovery from the civil war that ended in 2009—remain.

Corporate tax evasion is like the weather: Everyone complains about it, but what is being done and what does it mean for corporations?

MILESTONES By Ronald Fink Fiat-Chrysler’s move from Italy to London, and the plans of other multinationals to relocate to the United Kingdom, cements the UK’s newfound international tax status. The car manufacturer’s recent decision to shift its tax domicile from ...

Tax officials perplexed by Google (Photo: CoolCaesar) If 2013 was the year public opinion turned solidly against the tax avoidance strategies of large technology companies, 2014 promises to be the year lawmakers actually address the schemes. In late December, Italy ...

MILESTONES: UNITED STATES   By Paula Green   US tech firms, including Google And Twitter, are taking advantage of a new model for accounting and tax services.   A stripped-down, low-cost solution is gaining in popularity among Silicon Valley tech ...

MILESTONES: GLOBAL   By Valentina Pasquali   Companies worldwide are making big changes to their reporting processes—seeking relief from the high costs associated with missed regulatory deadlines and poor-quality data.   They are investing more and more in their financial ...

AUTOMATION, TAXATION AND RISK REDUCTION BY Denise Bedell Risk management and technology were key themes of the annual AFP conference in Boston in November.   Jegher, Celent: Only a fraction of banks now offer corporate mobile banking solutions The annual ...

MILESTONES: US/EUROPE   By Anita Hawser   As governments in the US and Europe embark on a program of austerity measures, they are more eager than ever before to claw back millions from undeclared offshore accounts.   Swiss banks reach deal with ...