#GlobalTax

[mirrorreview]

The Highest Taxed Countries In The World [Updated 2025]

A tax is a mandatory financial charge imposed by a government on individuals, businesses, or other entities to fund public services and infrastructure. Some countries impose higher tax rates to support extensive social welfare programs, healthcare, and education. Others rely on high taxes to boost economic development or balance national budgets.

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[scienza-magia]

Tassazione minima Europea sui profitti delle multinazionali

In Europa finisce l’era dei paradisi fiscali. Dal 2024 aliquota al 15% per le multinazionali. Fine dei “paradisi” europei ma resta aperta la partita big-tech. Con la pubblicazione sulla Gazzetta ufficiale dell'Unione europea della Direttiva (Ue) 2022/2523, in Europa finisce l'era dei paradisi fiscali (quantomeno quelli interni) e inizia quella della tassa minima per le multinazionali. Il provvedimento, pubblicato lo scorso 22 dicembre, obbliga i 27 ad adottare entro la fine del 2023 le leggi di recepimento della Direttiva (che in quanto tale non è auto-applicativa, ma ha bisogno di essere calata nelle norme nazionali) e a partire con la nuova tassa comune dal 1° gennaio 2024. Come funziona la Global tax europea La minimum tax dell'Unione non è altro che la versione locale della Global minimum tax, progettata e poi annunciata dall'Ocse nell'ottobre del 2021, salutata da grande consenso internazionale (139 giurisdizioni formalmente aderenti) ma da allora ferma ai box della diplomazia internazionale – e dei “distinguo” sulla tassazione delle big-tech, vero epicentro del contendere. La scelta di Bruxelles di recepire quel testo e di anticiparne l'entrata in vigore è, per questo, anche un segnale politico importante verso le incertezze tecniche (e politiche) di molti partecipanti a quell'accordo.La minimum tax europea parte da un principio chiaro: nessun gruppo multinazionale può pagare meno del 15% di tasse sul reddito prodotto nell'Unione. La capogruppo o una sua intermediata deve farsi carico della ripartizione o comunque delle compensazioni dell'imposta tra le diverse giurisdizioni -mediante un sistema di reporting sovranazionale ormai sufficientemente omologato -: ciò che importa all'Unione è solamente che non ci siano più alterazioni del mercato mediante dumping fiscale, vale a dire «paga le tasse dove vuoi ma pagale». Chi paga e chi no

Il «vestito» della minimum tax è tagliato su misura delle big-tech, che pure non rientrano direttamente in questo Secondo Pilastro della tassa comune. Quindi la soglia per applicare l'imposta alle multinazionali presenti nell'Ue (ma anche alle grandi aziende “mono”nazionali) è 750 milioni di euro di fatturato globale raggiunto almeno due volte negli ultimi quattro anni. Questa asticella però non vale per tutti i mercati Ue: i piccoli mercati, dove la divisione locale del gruppo non raggiunge i 10 milioni di fatturato o 1 milione di reddito, non vedranno applicata l'imposta comunitaria. Anche le multinazionali start-up che si trovano cioè «nella fase iniziale della loro attività internazionale» possono essere escluse dall’applicazione delle regole per un periodo transitorio di cinque anni.Non solo. Gli Stati europei in cui hanno sede pochissimi gruppi multinazionali possono scegliere di non recepire del tutto la minimum tax per un «periodo limitato di tempo» ma dovranno notificarlo, cioè dichiararlo alla Commissione Ue entro la fine del 2023. Ci sono poi esclusioni per tipo di attività. A cominciare dal trasporto marittimo (merci, passeggeri, vendita e affitto di navi, attività di servizio collegate etc) un mercato «altamente volatile per natura» e con cicli economici lunghi, «tradizionalmente assoggettato a regimi fiscali alternativi o integrativi negli Stati membri». Fuori dal perimetro della minimum tax anche gli enti statali, le organizzazioni internazionali, le organizzazioni senza scopo di lucro, i fondi pensione e i fondi d’investimento. Le web tax Fuori dalla minimum tax europea resta anche la digital (o web) tax. Formalmente perché quest'ultima fa parte dell'altro pilastro dell'Ocse (il Pillar One), di fatto perché questo è il terreno di attrito tra Europa e Usa. Alcuni paesi Ue, tra cui l'Italia, di fronte ai ritardi dell'Ocse hanno già avviato una digital tax nazionale, a cui gli Usa avevano subito reagito mettendo sotto procedimento (cioè dazi pesanti) gli avanguardisti della tassa contro i big tech americani. Dallo scorso anno la disputa è congelata con un'intesa chiara: ci si conformerà tutti alle regole Ocse (Pillar One) quando arriveranno, e in quella sede chi ha già incamerato le web tax nazionali vedrà se c'è qualcosa da integrare, o da restituire alle over-the-top. La direttiva Ue, memore dei delicati equilibri ma non disposta a soprassedere sul diritto a esigere la tassa digitale, prende tempo fino al prossimo giugno per valutare i progressi della digital tax Ocse, in caso di perdurante impasse l'Unione europea si riserva di proporre una soluzione legislativa anche su questo terreno Read the full article

[tax-q-and-a]

Emerging Trends in Global Tax and the Need for Implementation of Tax Technology

Multinationals as well as domestic organizations are now faced with new emerging trends of governmental taxing authorities constantly finding ways of increasing its tax revenue base. Moreover, the global tax system has continued to evolve and migrate over to digitization versus legacy analog systems and hard copy tax forms.

Along this trend is a continued globalization of commerce, which has encouraged the migration of businesses in all industry facets towards digital transformation. Jeff Bezos, founder of Amazon once said “In today’s era of volatility, there is no other way but to re-invent.  The only sustainable advantage you can have over others is agility, that’s it. Because nothing else is sustainable, everything else you create, somebody else will replicate.” – Jeff Bezos. 

More and more organizations have and continue to invest more dollars into transforming their operational enterprise resource planning (ERP) capabilities into digitizing its commerce footprint. Data shows that the global spending trends on digital transformation from 2017-2025 have more than tripled from that of pre-2017 spending, and that it is projected that in 2022 alone digital transformation (DX) is estimated to reach 1.8 trillion U.S. dollars.

© Statista 2022

The global shift toward digital transformation and cloud applications has presented new frontiers and opportunities for organizations to re-invent and get ahead of competitive market forces. From customer relationship management (CRM) systems to the financial accounting life-cycle of accounts receivable, accounts payable, inventory cost management, and financial data analytics, organizations need to pay attention and make capital expenditures (CapEx) in upgrading its business application development.

Investing in new tax technology is part of that digital transformation journey. Whether in the U.S. or internationally, the tax landscape presents ever-changing tax policies and tax reform.  For instance, in just the past five years, the Tax Cuts and Jobs Act (TCJA) was passed in 2017, and in the more recent amendments under the Coronavirus Aid, Relief and Economic Security (CARES Act) for changes in relevant tax policies. On the global side, in 2021 more than 130 countries including the U.S., representing approximately 90% of global GDP, joined together in a statement to establish a new global framework for international tax reform.

This has brought about the ever increasing need to implement tax technology in organizations that want to and should stay ahead of the market and ready itself for global and domestic tax reform and the trend toward digitization of taxes. Ideally, an organization should implement some iteration, if not all of the following ecosystem of tax digital solutions:

Tax-aligned ERP.

If you’re in tax, then you know the most common frustrations of tax personnel, is that in most ERP instances, tax is not fully aligned to enterprise solutions, and tax data has to be manually pulled, collated, and compiled to be useable in tax compliance filings, and tax provision calculations .  This takes an enormous amount of people power and resources for each accounting life-cycle close period, whether monthly, quarterly or annual. By aligning tax technology to the organization’s ERP and master databases, data can be utilized in a more efficient and effective way to meet tax deadlines, FP&A deadlines, and provisions on accounting for income taxes under ASC 740.

Unified tax technology.

Tax connected applications that are implemented the right way can be powerful and leverage tax data at its ERP source.  This allows for effective, efficient and reliable tax reporting solutions that avoid the common manual data errors.

Tax data analytics.

With combined tax technology solutions, data can be readily available, and large sets of tax data can be analyzed into more transparent and visual trends in organizational tax spend, effective tax rates on a domestic and multi-national basis, and provide for deeper understanding for leadership on the tax ramifications of day-to-day transactional activity as well as planned M&A tax due diligence.

Digital tax compliance submission capability.

Global trends in digital tax filing requirements have placed increased demand for organizational indirect tax functions to meet transactional reporting and real-time data reporting. Italy and in some Latin American countries like Argentina, Mexico and Chile, now require both B2C and B2B transactions to real-time invoice reporting. Poland, effective 2016, required compulsory real-time reporting for large VAT-registered companies. In Italy, the new Italian tax regime’s tax reporting center is the “sistema di interscambio” (system of exchange), or SDI, which requires a real-time interface for reporting invoices. On July 1, 2017, the Spanish tax authority introduced a new obligation called “suministro inmediato de información del IVA” (immediate supply of VAT information), known as SII, which is similar to the new indirect tax reporting in Italy.  Hungary and India have followed suite with respect to VAT and GST tax reporting respectively.

Tax provision automation.

Given the new complexities of tax provisioning, especially on the foreign side of the house, with FIDI, GILTI and other consolidating tax provision calculations, it makes better sense to implement tax automation technology in assisting organizational tax departments with available technological advances on master data pulls, APIs and the ability to quickly gather general ledger data from an ERP to assist with cycle tax provisioning. 

Continuous tax process improvement and governance.

One of the benefits of implementing tax technology is the added benefit of tax data transparency.  This allows for further identification of tax process improvements for compliance reporting and overall trends in tax data visibility, which lends itself to better tax planning in support of organizational leadership goals and objectives contributing to the organization’s bottom line.

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A recent EY survey in 2020 showed that 51% of respondents expect an increase in organizational tax risk for complying with emerging global digital tax filing requirements, and also that about 84% of the corresponding respondents also expect increased workload for the tax, finance and accounting department functions as a result of global digitization tax filing requirements.

It makes perfect sense to get ahead of the curve and implement new tax technology to be fully aligned with an organization’s ERP systems so as to avoid tax risks, find process improvements and tax cost savings as well as provide better visibility of an organization’s tax data trends to leadership.

John Chambers, former Executive Chairman and CEO of Cisco, once said a sobering thought that “At least 40% of all businesses will die in the next 10 years…if they don’t figure out how to change their entire company to accommodate new technologies.” – John Chambers, Cisco. On a more positive note, George Westerman of MIT Sloan Initiative on the Digital Economy, once said that “When digital transformation is done right, it’s like a caterpillar turning into a butterfly, but when done wrong, all you have is a really fast caterpillar.” – George Westerman, MIT Sloan Business School.

[victorytox]

Mastering International Taxation & Transfer Pricing ll Essential Strategies for Global Businesses

#victorytox #internationaltaxation #transferpricing #GlobalTax #taxcompliance #taxplanning #OECDGuidelines #TaxDocumentation #taxadvisory #IntercompanyTransactions #CrossBorderTax #taxregulations #taxstrategy

[alexandererber-wealth]

How the 183-Day Rule Shapes Global Tax Strategies

The 183-day rule is pivotal in defining tax residency and liabilities internationally but is often misunderstood. Our latest guide demystifies this rule, providing entrepreneurs with the clarity needed to navigate global taxation effectively. Explore how strategic tax planning can benefit your international operations and help you avoid common pitfalls.

Read our full guide to leveraging international tax regulations for your advantage: https://global-success-consulting.com/unravel-global-tax-183-day-rule/

#GlobalTaxation #BusinessStrategy #Entrepreneurship #TaxTips #InternationalBusiness

(via Unraveling the Global Tax Labyrinth: Truth Behind 183-Day Rule)

[innovation008]

Is Global Tax Reform Stalling? | Davos 2023 | World Economic Forum

#GlobalTaxation #EconomicFairness #taxreform #InternationalCooperation #saudiarabia #tax #society #nigeria #business #development #people #change #leaders #leaders #economy #planning #finance

[bostonfinancialadvisorygroup]

WHAT IS CASH TO ORDER AND ITS PROCESS? Visit us : https://bit.ly/3knUvK8 watch here : https://youtu.be/HV6l7FiMXCE

[radiosat24web]

#radiosat24web #easternmediterraneaneuropeanunion #easternmediterraneaneuropeanunioncountries #easternmediterraneancountriesmap #easternmediterraneanregion #states #communities #localgovernment #economicdevelopment #socialopportunity #sportsandfreetime #dailypressreview #radiosat24web #tuesday #morningpressreview #usaeuropeanunion #globaltax EU delays digital levy to focus on global minimum tax agreement Brussels - Radiosat24web - The EU has decided to postpone its digital levy until the autumn after a two-day meeting of G20 finance ministers in Venice, where a historic agreement was reached on building a more stable and fairer international tax architecture, writes Catherine Feore. Much of the renewed impetus for progress in this area has come from the new Biden administration. Today the US Secretary of State for the Treasury Janet Yellen met with the president and executive vice president of the European Commission for the economy, as well as with Economy Commissioner Paolo Gentiloni and European Central Bank President Christine Lagarde, before participating in today’s Eurogroup meeting of finance ministers. The new proposal will build on the ‘base erosion and profit shifting’ (BEPS) work of the OECD and address the two components of this work, namely the allocation of profits of multinational companies (MNEs) and an effective global minimum corporate tax rate. The US initially suggested that a minimum corporate tax rate should be set at 21%, but swiftly moved to 15%. Going into today’s Eurogroup meeting, Economy Commissioner Paolo Gentiloni said he had had an excellent meeting with the US Secretary of the Treasury Janet Yellen. Gentiloni said the main achievement of the weekend - the global agreement on taxation - would put an end to the “race to the bottom” to relocate taxes. He said: “In this framework, I informed Secretary Yellen of our decision to put on hold the proposal of an EU digital levy to allow us to concentrate on the last mile of this historic agreement.” This #article continues https://www.instagram.com/p/CRQ0DGgtQDt/?utm_medium=tumblr

[falungong513]

【中共缺水】中共喪屍四出吸血，向陸人全球課稅。中國個人收入稅率最高可達45%，這意味著對於在香港（最高15%）和新加坡（最高22%）等低稅率工作的中國公民，將面臨巨大補稅壓力。香港政府5年來向內地發出34萬個入境簽證，不少進駐金融、會計、學術和傳媒界別。若半數月入（包花紅等）逾5萬港元，加幾百個「親王」級人物，於免去雙重徵稅後估計中共可吸逾300億人民幣。 👉🏻全文：https://hk.epochtimes.com/news/2020-07-24/74711713 🆕更多Infographic，請Follow 大紀元ET Chart IG：https://instagram.com/et.charts @et.charts #香港 #HongKong #HK #HKer #中共 #中國 #CCP #China #Chinese #Tax #稅 #GlobalTax #全球課稅 #報稅 #全球徵稅 #交稅 #財經 #經濟 #人民幣 #RMB #IncomeTax #薪俸稅 #大陸稅 #infographic #chart #天滅中共 #epochtimes（在 Hong Kong） https://www.instagram.com/p/CDdFNqEnDJw/?igshid=1gvjzg7loxypn

[nsktglobal-12]

How can you correct your taxes with an amended tax return?

NSKT Global has a dedicated team of qualified and trained professionals to help American taxpayers during every step of tax filing. This eliminates any chances of making errors on your tax returns and avoids the hassle of using Form 1040-X. You can click through to the official website of NSKT Global, and learn how you can benefit from the tax services offered by a well-qualified and dedicated team of professionals. Read more…

[prayagraj4457]

Double taxation is a major hurdle for NRIs filing tax returns in India. Learn how to navigate tax liabilities, avoid penalties, and utilize DTAA benefits.

[bluwings]

GST : Start Filing #gst #tax #india #update #blugel #bluwings #globaltax #trend #trends #knowledge #taxfiling #incometax #it @bluwings.co.in @incometaxes @gst_pitara (at Blu Wings Marketing)

[thenewsfacts]

Global Tax Reforms to become a reality soon

Global Tax Reforms to become a reality soon #taxreforms #OECD #GlobalTaxes #businessnews #thenewsfacts

Global Tax Reforms initiative got a positive head start as 130 countries have accorded their consent for change, and a global tax reform ensuring that multinationals pay their fair share wherever they operate, the OECD said on Thursday, but some EU states refused to sign up. The Organization for Economic Co-operation and Development said in a statement that global companies, including US…

[nicolesydneyaus]

Simplifying Global Tax With S/4HANA Cloud

Using SAP S/4HANA Cloud, Delaware Consulting now has a global tax and compliance solution that seamlessly integrates with their ERP across nations, companies and projects. #SAPLocalization #SAPGoGlobal #S/4HANACloud #GlobalTax #CloudService #Compliance

Simplifying Global Tax With S/4HANA Cloud

Using SAP S/4HANA Cloud, Delaware Consulting now has a global tax and compliance solution that seamlessly integrates with their ERP across nations, companies and projects.

SAP Get Social

[oliverhuschke]

Simplifying Global Tax With S/4HANA Cloud

Using SAP S/4HANA Cloud, Delaware Consulting now has a global tax and compliance solution that seamlessly integrates with their ERP across nations, companies and projects. #SAPLocalization #SAPGoGlobal #S/4HANACloud #GlobalTax #CloudService #Compliance

Simplifying Global Tax With S/4HANA Cloud

Using SAP S/4HANA Cloud, Delaware Consulting now has a global tax and compliance solution that seamlessly integrates with their ERP across nations, companies and projects.

SAP Get Social

[bostonfinancialadvisorygroup]

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