The Times Square offices of Thomson Reuters hosted a reception Thursday evening to mark the launch of the North American chapter of the U.K. Chartered Institute of Taxation.
The event attracted accountants from a number of major firms on both sides of the Atlantic. Thomson Reuters has been expanding its offerings in the field of international tax compliance and planning, so it made sense for the company to host the reception. Brian Peccarelli, president of the Tax & Accounting business of Thomson Reuters, introduced the group. The event was held in a room that offered a panoramic view of the glittering Times Square, with Central Park in the distance.
The Chartered Institute of Taxation is not yet well known in the U.S., but it actually dates back to 1930. The group now counts 15,400 members, along with 4,000 students. The North American chapter will cater to the growing number of U.K. tax professionals who are based in New York and other parts of the country.
Robert Moncrieff, the chairman-elect of the CIOT North America branch, and a tax advisor with Ernst & Young in New York, noted, “Just as multinational corporations have changed the way they manage their businesses globally, and how tax fits in with that, so too have tax professionals adapted in skill sets, focus and structure. The diverse group of expatriate and U.S. tax professionals here is testament to that and the establishment of a chapter based in New York is an important first step to addressing the needs of our current and future members here and integrating them better with the business community we serve.”