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Organisations must understand and manage risk and seek an appropriate balance between risk and opportunities.
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Cybersecurity
As organisations become increasingly dependent on digital technology, the opportunities for cyber criminals continue to grow.
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Business consulting
We can formulate solutions to keep you ahead of disruptive change.
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Valuations
Our valuation specialists blend technical expertise with a pragmatic outlook to deliver support during transactions, restructuring and disputes.
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Helping you with successful growth deals throughout your business life cycle.
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Workable solutions to maximise your value and deliver sustainable recovery.
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Strategic growth decision making. Globalisation and company growth ambitions are driving an increase in M&A activity worldwide.
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Forensic and investigation services
Rapid and customised approach to investigations and dispute resolution.
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Our member firm IFRS advisers can help you navigate the complexity of the Standards so you can focus your time and effort on running your business.
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Audit quality monitoring
A key component of our global strategy is to promote the delivery of consistent, high quality client service worldwide.
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Global audit technology
We apply our global audit methodology through an integrated set of software tools known as the Voyager suite.
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Corporate and business tax
Growing businesses need strong tax management to meet current and future tax liabilities and we can help you achieve this, whatever challenges you face.
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Direct international tax
We have the insight and agility to create the strategies you need to respond quickly to ever-changing tax laws.
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Global mobility services
In a globalised world, businesses must work seamlessly across borders. Organisations operate in multiple countries and view international expansion as a strategic objective.
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Indirect international tax
With more goods and services crossing national borders than ever before, you may be facing indirect tax obligations in many countries – even those where your customer is located.
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Innovation and investment incentives
Dynamic businesses must continually innovate to maintain competitiveness, evolve and grow. Valuable tax reliefs are available to support innovative activities, irrespective of your tax profile.
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Transfer pricing
The laws surrounding transfer pricing are becoming ever more complex, as tax affairs of multinational companies are facing scrutiny from media, regulators and the public.
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Tax policy
Grant Thornton’s teams can work with you to help you understand these regulations, develop a strategy tailored to your business’ individual tax needs and manage tax risk around the globe.
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Business process solutions
As organisations grow, back office processes and meeting reporting requirements across multiple jurisdictions can become a distraction. We remove the burden of back office operations and worries about compliance to enable you to focus on growth.
Tax policies are constantly evolving, will these affect your business?
Grant Thornton’s teams can work with you to help you understand these regulations, develop a strategy tailored to your business’ individual tax needs and manage tax risk around the globe.
Base erosion and profit shifting (BEPS)
Businesses with a footprint in a number of countries will be aware of the variations in tax policies between regions.
In recent years, these tax discrepancies have been at the centre of a public outcry and received huge amounts of media attention. Through aggressive tax planning, some organisations capitalised on these discrepancies and regional variations to avoid corporate tax or reduce their liability. This practice is known as base erosion and profit shifting (BEPS). Although legal in the vast majority of cases, this practice has raised ethical concerns worldwide.
The Organisation for Economic Co-operation and Development (OECD) launched a 15-step action plan to tackle and reduce BEPS, which could lead to major changes in international tax standards.
Action 1: Address the tax challenges of the digital economy
Action 2: Neutralise the effects of hybrid mismatch arrangements
Action 3: Strengthen controlled foreign corporation (CFC) rules
Action 4: Limit base erosion via interest deductions and other financial payments
Action 5: Counter harmful tax practices more effectively, taking into account transparency and substance
Action 6: Prevent treaty abuse
Action 7: Prevent the artificial avoidance of permanent establishment (PE) status
Action 8: Assure that transfer pricing outcomes are in line with value creation/intangibles
Action 9: Assure that transfer pricing outcomes are in line with value creation/risks and capital
Action 10: Assure that transfer pricing outcomes are in line with value creation/other high-risk transactions
Action 11: Establish methodologies to collect and analyse data on BEPS and the actions to address it
Action 12: Require taxpayers to disclose their aggressive tax planning arrangements
Action 13: Re-examine transfer pricing documentation
Action 14: Make dispute resolution mechanisms more effective
Action 15: Develop a multilateral instrument
View a copy of the detailed action plan from the OECD
If you do business across borders, it’s essential you understand these possible changes to tax systems. Having a firm grasp on the OECD’s plans could protect you from reputational damage and also make sure your business is compliant with necessary rules and regulations.
Helping to shape future regulation
Grant Thornton International Ltd, with input from its member firms and their clients, welcomes the opportunity to comment on the discussion drafts issued by the OECD and the European Commission on future tax legislation. The detailed responses to key areas are available below:
If you have any questions or would like to find out more about how we can help, please contact us.
