The Covid-19 crisis could not have come at a worse time for corporate tax professionals. As if grappling with the quarter close and looming tax season weren’t enough, working remotely presents its own unique challenges.

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The changing requirements for reporting directors’ fees have intersected with COVID-19 economic stimulus measures, activity statement reporting and Services Australia increasing potential compliance risks. Several issues have arisen which demand attention.

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In a recent global survey on COVID-19’s impact on trade to identify the challenges currently facing the government and private sectors in moving goods, the results signalled a gulf between access to trade-related information and the implementation of that information.

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For years, there have been talks about the VUCA world and disruption, but none so severe as this one, which is forcing organisations across the globe to take a hard look at their processes and business models.

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The world won’t ever be the same post COVID-19.
So what is the future for tax, globally? Our country’s
top tax experts share their predictions.

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Thomson Reuters has recently launched a unique visual dashboard to show movement in legislation across more than 200 countries. The Tracker covers pandemic-driven changes in more than 300,000 jurisdictions.

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