In real estate development, success is often associated with location, design and timing. These factors matter. But they are no longer enough. Having worked with developers, contractors, investors and lenders across the construction and real estate sector for many years, it’s evident that the projects which perform best are not always the most ambitious or…
We are pleased to bring you Issue 36 of Tax Refresher, our bi-monthly newsletter designed specifically for large corporate and international businesses, helping you stay informed on the latest tax, VAT, and employment tax developments impacting organisations operating across multiple jurisdictions. In this Pillar Two special edition of Tax Refresher, you will find the below…
Introduction For decades, the accounting profession has been built upon principles of accuracy, compliance, financial stewardship, and trust. Accountants have traditionally served as custodians of financial information, responsible for recording transactions, preparing financial statements, ensuring regulatory compliance, and safeguarding organisational integrity. While these responsibilities remain fundamental, the profession is undergoing one of the most significant…
Baker Tilly South East Europe member firm of Baker Tilly International, is pleased to announce that our network has been named Network of the Year at the International Accounting Forum & Awards. This is the second time our network has won the award in the past four years. Baker Tilly International was recognised for delivering…
Emeritus Professor Joe Nellis is economic adviser at MHA, the accountancy and advisory firm. Eurozone inflation fell to 2.8% in June, reflecting a dichotomy at the heart of the European economy. On the one hand, the conflict in the Middle East has led to energy supply disruptions and periods of higher crude oil prices, increasing…
Australia has opened lodgement channels for Pillar Two returns, allowing multinational enterprise (MNE) groups to submit the GloBE information return (GIR) and the combined global and domestic minimum tax return (CGDMTR) through the Australian Taxation Office (ATO) online services. First lodgements are due by 30 June 2026, with the ATO providing an administrative 30-day deferral…
From Disclosure to Scrutiny: A Turning Point for the SEE Energy Sector The first cycle of Corporate Sustainability Reporting Directive (CSRD) implementation has exposed a critical reality across South-East Europe (SEE): while alignment with EU sustainability objectives is widely acknowledged, operational readiness remains uneven. For energy companies in Romania, Greece, Bulgaria, Cyprus and Moldova, the…
Insolvency is still widely read as a synonym for failure. Increasingly, it is the opposite: a structured route to renewal, and one of the more effective tools available for rescuing businesses that have run into difficulty. Insolvency practitioners (“IPs”) sit at the centre of that work. Acting in various capacities — as liquidators winding a…
For many non-profit organizations, foundations, and professional associations, revenue recognition is far from straightforward. While IFRS 15 introduced a comprehensive framework for recognizing revenue from contracts with customers, applying its principles to donations, grants, and membership fees often requires considerable judgment and a thorough understanding of the underlying arrangements. One of the most common challenges…
As the global maritime community gathered at Posidonia 2026, discussions extended well beyond vessels and technology. The industry’s agenda is increasingly shaped by sustainability requirements, access to finance, digital transformation, evolving governance expectations and an increasingly complex regulatory environment. Shipping companies today face simultaneous pressures, such as compliance with environmental regulations, securing funding for fleet…
The tax authorities have issued guidance on compliance obligations under the Global Minimum Tax framework, as implemented through Law 151(I)/2024, covering multinational and large domestic groups for financial years beginning between 31 December 2023 and 31 December 2024. The tax authorities confirm that a Group of Multinational Enterprises (MNEs) that falls within the scope of…
The financial services industry has long operated in an environment of evolving accounting and regulatory requirements. While IFRS 9 has now become embedded in financial reporting frameworks, recent developments and the introduction of IFRS 18 are prompting financial institutions to revisit not only their accounting policies, but also how they communicate performance to investors and…