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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.

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.

The pandemic has turned teleworking from a necessity into a permanent part of the labor market, valued by both employees and employers.The white paper deals with the regulations during the pandemic and also the current regulations after the pandemic for teleworking. It allows you to discover similarities and differences in the national regulations.

The BFG („Bundesfinanzgericht“) has commented on questions relating to violations of the limitation of deductions pursuant to § 20 para. 1 no. 7 Income Tax Act (“EStG”) on "manager salaries" and established criteria for culpability in the event of non-compliance with this limitation.

EFRAG has released drafts for two sustainability reporting standards for SMEs for public consultation (ESRS LSME and ESRS VSME). This provides clarity on the extent to which large companies can demand sustainability information from SMEs, as ESRS LSME sets the upper limit for capital market-oriented SMEs. Conversely, the voluntary standard for non-capital market-oriented SMEs aims to support the standardization of sustainability data to respond to enquiries from business partners.

EFRAG has adopted the draft of the ESRS XBRL taxonomy for digital tagging of sustainability reports. In future, companies subject to the CSRD will have to disclose their reports in this electronic format. This will make sustainability information more easily accessible and increase transparency.

With the preliminary agreement on the Corporate Sustainability Due Diligence Directive (CSDDD), a further milestone in the European Green Deal has been reached. For the first time, the CSDDD puts corporate due diligence towards human rights and the environment at the forefront along the entire value chain. The significance of the issue is underscored by the far-reaching sanctions involved.

According to the World Economic Outlook (WEO) report issued by the International Monetary Fund (IMF) in October 2023, and based on economic conditions that currently exist in Ghana, Sierra Leone and Haiti, these countries are now considered to be hyperinflationary from 31 December 2023. Therefore, reporting entities in those countries will be required to apply IAS 29 'Financial Reporting in Hyperinflationary Economies'. Consequently, any entities with interim or annual financial reporting requirements at 31 December 2023 or thereafter should reflect IAS 29 in their IFRS financial statements.

Considering both the situation at home and abroad, it is our absolute responsibility to reduce any risk of infection and to minimize the consequences for our employees and clients. From Monday onwards, most of our employees will work from home. We have taken the following measures to ensure that you, our valued customers, continue to receive your services on a complete and timely manner.

Every year the requirements of International Financial Reporting Standards (IFRS) change. New Standards, Interpretations and Amendments are published that will affect companies’ future financial reporting.

The preparation of financial statements in accordance with International Financial Reporting Standards (IFRS) is challenging. 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.

Despite increasing trade barriers and a rather pessimistic expectation of global economic development, technology and growth opportunities are driving companies internationally in new markets.

In times of uncertainty businesses often turn to a trusted confidant, who can diagnose their problems and recommend a course of action to thrive. It is perhaps therefore no surprise that when many sectors are starting to look off colour, the professional services sector is in relatively good health. In this article, we explore the vital signs for the Professional services sector and explore their outlook.

The OECD’s latest proposals on taxing digital business pull back from the radical roadmap put forward in May to something much closer to the January policy note by proposing a modified residual profit split with benchmarking of routine profits.

Research shows that R&D investment is a priority for businesses growing internationally – so how might R&D support your business’s overseas expansion?

Businesses of all shapes and sizes are trying to carve out a competitive advantage by leveraging digital information. The most cutting-edge companies harness customer preference data for a range of reasons, including to create personalised services and targeted marketing campaigns; to scrutinise employee performance data to drive productivity; and to analyse supply chain information to drive efficiencies. And that’s just the tip of the iceberg, with digitised data embedded across business practices.