On the 26th February, the EU Commission announced its ‘Omnibus’ package, confirming the simplifications to the Carbon Border Adjustment Mechanism (CBAM). The proposal document and supporting ‘Commission Staff Working Document’ (SWD) were released the following day, outlining amendments to CBAM Regulation 2023/956. These changes are in response to discussions on the existing scope of the…
Estonia’s Ministry of Finance has said it did not agree (under an OECD Inclusive Framework “silent procedure”) to the proposed Pillar Two side-by-side system package, and that it wants an outcome “acceptable to all parties.” In its announcement, Estonia argues that the OECD minimum tax rules are highly complex, would create a disproportionate administrative burden…
This insight was co written by Tomasz Piasecki and Maisie Williams. Recent developments include the UK Sustainability Reporting Standards (UK SRS) and the PRA’s SS5/25 supervisory expectations on climate risk management for banks and insurers. In the EU, the Omnibus I simplification package introduces amendments to key sustainability legislation, including the Corporate Sustainability Reporting Directive (CSRD) and the Corporate Sustainability Due Diligence Directive (CSDDD).…
Why environmental, social and governance issues now matter at farm, processor and board level Environmental, Social and Governance, widely referred to as ESG, provides a framework for understanding how sustainability-related matters affect a business and how its activities affect people and the environment. The environmental pillar covers areas such as climate change, energy, water, pollution,…
In 2024, Forbes reported that video games are developing future leaders. The article cited countless hours spent in virtual worlds as ‘shaping a new generation of leaders who navigate complex business challenges with the same strategic precision they once used to conquer digital realms’ – a generational change revolutionising how businesses approach decision-making. With these…
Baker Tilly South East Europe is sharing the 2025 Energy, Renewables, and Industrials (ENRI) in South-Eastern Europe. This report provides a comprehensive analysis of the Energy, Renewables, and Industrials (ENRI) sector across five key South-Eastern European markets: Cyprus, Greece, Romania, Bulgaria and Moldova. It synthesizes market data, policy developments, investment trends, and infrastructure projects for…
Revenue has adopted a more formal approach to enforcement of the reporting required under new Enhanced Reporting Requirement (ERR) legislation. Employers are now receiving Level 1 compliance intervention letters where ERR filings are missing, late or incomplete, and Revenue is using data analytics to cross-check submissions against payroll, VAT and corporation tax records. If you…
While the EU’s Omnibus proposal aims to reduce the number of companies within the scope of the Corporate Sustainability Reporting Directive (CSRD) by an estimated 80%, it also aims to streamline regulatory demands and give wave 2 and 3 companies more time – helping businesses focus more effectively on sustainability. The ‘stop-the-clock’ directive has officially…