Inside this issue, Richard Ashby at AGN Member Firm Gilligan Sheppard in New Zealand provides insight into the new Government and what impact this will have on taxes. Muhammad Kamil Gohar at AGN Member Firm RASG in India provides insight into taxes related to the digital economy.
A summary of each article follows. Download the publication for a comprehensive read.
Effective 30 September 2023, Oscar Falconí, Partner at Falconi y Asociados CP, assumed his new role as Chair of the AGN Central & South America Region. This appointment brings with it a wealth of expertise and a fresh perspective to the dynamic field of accounting.
News from the AGN EMEA Accounting, Auditing & Education Committee (AAEC)
After the European Financial Reporting Advisory Group (EFRAG) “expert group” submitted its drafts on Set 1 of the European Sustainability Reporting Standards (hereinafter EFRAG-ESRS) to the EU Commission in November 2022, the Commission published its revised versions on June 9, 2023 (hereinafter EU-Com.-ESRS) and put them out for public consultation.
Contributed by: Windham Brannon.
On Sept. 14, 2023, the Internal Revenue Service (IRS) announced a moratorium on processing new Employee Retention Credit (ERC) claims effective Sept. 14, 2023, to Dec. 31, 2023. The moratorium comes with continued mounting concern regarding questionable ERC claims and potential scammers, as well as concerns from tax professionals. Now that the moratorium is here, what should the next move be for taxpayers who already filed their ERC claim?
AGN International announces that Peruvian firm Sanz & AC has joined its Central & South American (CSA) membership.
On October 12, 2023, the European Foreign Subsidies Regulation (FSR) will take effect, impacting Swiss companies and foreign entities operating in Switzerland.
The FSR introduces notification requirements for large business transactions and public procurement, containing a broad definition of subsidies, including tax benefits, grants, loans, and guarantees. As the deadline approaches, Swiss businesses must prepare for compliance.
AGN Firm Floyd Advisory in New York and Boston promote not one but two Associates to Senior Associates. Congratulations to Delaney Eagle and Michael J. Venezia.
News from the AGN EMEA Accounting, Auditing & Education Committee (AAEC)
AGN International is excited to welcome April Ince to the AGN North America team as Executive Assistant.
AGN Global Business Voice: International Business Issues
Almost every week, many accounting businesses are getting “those calls“ related to business value. In some respects, it’s really nothing new. Larger firms have absorbed smaller ones for many decades, and from time to time, we have seen externally funded consolidators active in the market. It’s certainly the experience in the US and Europe and parts of Asia that famous accountancy brands, regional or local, have been absorbed into larger internationally branded firms or even into technology businesses. (Read our June 2022 AGN Global Business Voice – The New Consolidators?)
