Emeritus Professor Joe Nellis is economic adviser at MHA, the accountancy and advisory firm. When the European Central Bank raised interest rates from 0% to 0.5% in July 2022, Eurozone inflation had already reached 8.7% the month prior. Policymakers were rightly criticised for acting too slowly across 2022 and 2023, allowing inflation to climb above…
DetailsThe OECD has released a common understanding agreed by jurisdictions that implemented the global minimum tax (GMT) with effect from 2024, aimed at mitigating delays in the availability of fully operational filing portals or in the establishment of exchange relationships for the GloBE Information Return (GIR) ahead of forthcoming filing deadlines. Under this understanding, jurisdictions…
DetailsEmeritus Professor Joe Nellis is economic adviser at MHA, the accountancy and advisory firm. Eurozone inflation rose to 3.2% in May as pressure builds on the European Central Bank to act now to combat rising prices. Despite efforts to control it, underlying price pressures remain strong, with service inflation and wage growth persisting, businesses passing on…
DetailsThe tax authorities in Belgium have announced that the filing deadline for both the qualifying domestic minimum top-up tax and the top-up tax under the income inclusion rule (IIR) has been extended. Qualifying Domestic Minimum Top-Up Tax The filing deadline for reporting years that start on 31 December 2023 or later, and reporting years ending…
DetailsIncorporating a so-called start-up entity does not necessarily mean that the company operates within the technology sector. Start-ups today are increasingly established as vehicles to promote innovative ideas capable of influencing a wide range of industries and sectors. The shipping industry, one of the most traditional and established industries globally, is progressively embracing innovation through…
DetailsThe latest CYSTAT figures show tourist arrivals for the year 2026 up to April down 27.6% compared to the same period in 2025. The regional instability in the Middle East has directly affected nearby markets especially Israel, which dropped by 74.8% while our traditionally primary market, UK, saw a decrease of 21.8%. Further to the…
DetailsAn efficient audit does not start when the audit team arrives. It starts months earlier, with preparation, planning and clarity over what will be required, and when. Many audit overruns are not driven by technical complexity or regulatory change. They arise because audits begin before the underlying building blocks are in place. Here, we set…
DetailsHow world events are flowing into financial statements Geopolitical developments, trade policy shifts and structural changes in energy demand are no longer background noise. Even where an entity has no direct exposure to a specific country, contract or supply route, the secondary and tertiary effects of global events are now filtering rapidly into financial results…
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