TMF Group is a global provider of critical compliance and administrative services, with some 7,800 in-house experts across 80-plus jurisdictions.
The CFO’s guide to compliant accounting and tax reporting during Covid-19 was compiled in response to rapidly changing financial compliance requirements across the globe. Among many business support measures, China has rolled out targeted tax incentives including cutting VAT, consumption tax, corporate and individual income taxes. Singapore is providing corporate income tax rebates and payment deferments. In its recent budget announcement, Australia outlined Covid-19 business recovery initiatives including asset write-offs, loss carrybacks and hiring credits.
The CFO’s guide prompts finance leaders to consider the new economic reality and how it affects company accounting policies. The guide takes readers through 10 key areas of cross-border finance operation, highlighting actions and items for further consideration and review.
Key areas covered in the guide include:
- Reporting requirements: CFOs need to consider whether their reporting packages are still fit for purpose and provide them with all the information they need to run the business.
- Treasury: CFOs should assess whether the department is well staffed, if there are enough people involved in the process and if their treasury reports are sufficient to preserve the company’s liquidity position.
Government schemes and tax incentives among other opportunities available. How can these schemes improve the company’s liquidity and cash flow position?
Click on the link to download your copy of the CFO’s guide to compliant accounting and tax reporting during Covid-19 and conduct a comprehensive review of your cross-border finance function.
