Where am I considered as tax resident? The question of tax residency is the decisive factor of taxation. It determines both national and international taxing rights and thus defines in which country an individual must pay tax on their worldwide income.
IFRS Alerts covering the latest changes published by the International Accounting Standards Board (IASB).
Entities should begin preparing for IFRS 18 ‘Presentation and Disclosure in Financial Statements’ sooner rather than later. Changes from IAS 1 ‘Presentation of Financial Statements’ could have a significant impact on the financial statements.
High quality management accounts enable management to monitor performance, allocate resources and devise business and market strategies. Therefore, they are particularly important for entities that operate in a variety of classes of business, geographical locations, regulatory or economic environments or markets.
With the growing focus on ESG among corporate stakeholders – including expectations for diverse workforces and an inclusive working culture – organisations need to ensure the ‘G’ in ESG includes diversity and inclusion measurement. Tracking metrics including gender parity will enable businesses to set appropriate goals, manage risk, design effective initiatives, demonstrate D&I successes to stakeholders, and engage their workforces – resulting in better business outcomes.
Technology can help mid-market firms to offset the damage caused by soaring inflation. But how do companies globally ensure they get the best return on investment? Here, we explore the opportunities and risks for businesses in the year ahead.
If the employee has the option of using a company-owned electric vehicle (with a CO2 emission value of zero grams per kilometer) for private travel, a non-monetary remuneration value of zero is to be applied. An electric vehicle is a means of transport that is powered purely by electric energy.
Due to the current situation in Ukraine, a number of companies have recently organized or made donations in cash or in kind for the long-suffering people on the ground. The wave of solidarity and willingness to help is enormous. The provision of these cash and non-cash assets can be claimed as tax-deductible under consideration of the legal requirements. The following is a brief explanation of the requirements that must be met in this regard.
Each year, new Standards and amendments are published by the International Accounting Standards Board (IASB) with the potential to significantly impact the presentation of a complete set of financial statements.
A common question in board rooms around the world is how well are large and complex companies responding to market and regulatory expectations on the consequences of climate change in their audited financial statements?
Progress towards female equality in senior leadership is accelerated when men act as allies. Informed by Grant Thornton’s research into the global mid-market, this article reveals what being a male ally looks like, and outlines the practical steps businesses can take to drive action and remove the organisational and cultural barriers to male allyship.
Since the beginning of the war in Ukraine hundreds of thousands of people have fled their homes. In order to provide support to the Ukrainian refugees as soon as possible, the EU Mass Influx Directive (EU Directive 2001/55/EC) was activated on 03.03.2022. This grants subjects a temporary residence permit, access to the labor market, social benefits, residential, medical care and educational opportunities.
All employees who work abroad must carry an A1 certificate with them due to the EU regulation (VO 883/2004 as well as VO 987/2009). This regulation applies not only to the posting of employees, but also to short business trips abroad. Therefore, an A1 certificate is required for every cross-border activity, no matter how short, and from the very first day.
The Austrian federal government had announced some time ago that domestic tax law was to be "ecologised". An important step in this direction was taken with the measures of the Tax Reform 2022. The first key points were presented on 3 October 2021. On 20 January 2022, these were finally adopted in a slightly adapted form. The Tax Reform 2022 will enter into force gradually from July 2022. In this article we will give you an overview of the innovations that have been adopted and that are intended to "relieve the burden on working people, reward environmentally friendly behaviour and strengthen Austria as a business location". Following this statement of the former Minister of Finance, we have categorised the measures into "social", "ecological" and "economic policy" measures.
IFRS 3 ‘Business Combinations’ contains the requirements for transactions, which are challenging in practice.
A transaction in which a company with substantial operations (operating company) arranges to be acquired by a listed shell company should be analysed to determine how it should be accounted for under IFRS.
This article focuses on reverse acquisitions within the scope of IFRS 3.
Acquisitions of businesses can take many forms and can have a fundamental impact on the acquirer’s operations, resources and strategies.
After leaping back strongly from the darkest days of the pandemic, the global mid-market could only manage a small additional step forward in the second half of 2021, as tracked by the Global business pulse, Grant Thornton’s index of health among mid-sized companies.