Tax Refresher - Issue 25

In the ever-evolving world of taxation, staying informed and prepared is paramount.

We are pleased to present issue 25 of Tax Refresher, our bi-monthly newsletter, tailored specifically for large corporate and international businesses, to keep you in the know about the latest developments and challenges in the tax landscape.

In this issue, we delve into a range of timely topics and developments shaping the business landscape. Our feature article introduces the "Pillar 2 Notification Tracker," a vital tool for navigating the complexities of the new Pillar 2 rules, which are constantly evolving and thus look out for updated versions of the tracker each month. Additionally, we cover a breadth of insightful articles, including an analysis of the OECD's draft user guide for the GloBE Information Return XML Schema and an exploration of the new EU Deforestation Regulation's implications for UK businesses. We also discuss the impact of tax governance on business sales, the balance between local and global perspectives in the "Glocal Imperative," and HMRC's strict stance on postponed import VAT accounting. Moreover, we provide guidance on handling HMRC enquiries, key tax considerations for doing business in Ireland, and a landmark tribunal ruling on R&D tax credit claims in AI and emerging technologies. Finally, we offer a perspective on leveraging generative AI safely, underscoring its potential while addressing associated risks.

We understand the complexities and challenges of the ever-changing tax landscape. Our goal is to provide you with the knowledge and resources you need to navigate this terrain successfully.

Stay informed, stay compliant, and stay ahead with our Tax Refresher newsletter. For any questions or further assistance, please don't hesitate to reach out to our team of tax experts.