Local compliance in a shared service centre environment: issues and challenges
Each jurisdiction has a different complexity profile which presents specific challenges and opportunities for businesses.
Worldwide, we see small steps towards the standardisation of tax and accounting principles. However, based on past experience of supranational legislation, whatever the extent of convergence, the reality for businesses is that they will still need to navigate different regulations in different countries. Understanding local business environments should be a top priority for any multinational. The depth of cross-border variances impacts not only the cost of business operations but determines which systems and processes to implement and the types of professional skillsets needed. Despite the current trend towards harmonisation, the goal of global conformity will not be achieved quickly. Until then, local tax and accounting practices will continue to influence business decisions and operating models.
During this webinar, Emine Constantin, TMF Group’s head of accounting and tax, will address the following issues and challenges to navigate local compliance:
- Variances in accounting requirements and how local GAAP compares with international reporting frameworks
- What international companies need to do to adapt their group reporting framework to local requirements
- Data management and tax reporting requirements and how companies can manage the changes