Xero, Bill English and the power of data

NZ Herald reported this month how Sir Bill English’s skills are in demand by the Trump Administration as it moves to leverage US Federal data as a strategic asset to grow the economy.

The former PM and Finance Minister is taking American officials through the ground-breaking integrated government data system he spearheaded in New Zealand.

“I just spent a week in the States talking about integrated data,” he told a finance dinner on Wednesday.

Alliott NZ Top 30 NZ Accountants for second year

Auckland’s Alliott NZ Chartered Accountants is recognised as one of Chartered Accountants Australia and New Zealand’s (CAANZ) Top 30 accounting firms in New Zealand for the second year running.

A compilation of New Zealand’s top accounting firms has shone a light on the contribution made by NZ accountants. Accounting firms in New Zealand were ranked for the second time and the Top 30 list was published yesterday in Sunday Star-Times, in partnership with Fairfax Media and CAANZ.

A key theme for CAANZ is exploring the increasingly important role of digital innovation, technological disruption and the future of reporting.

Taxing the digital economy fairly

David Gibbs, corporate tax partner at London accounting firm Alliotts (and chair of Alliott Group’s International Tax Services Group) explains in this short report that the OECD and the European Commission (EC) have both issued publications with their respective latest analysis and proposals to tackle the issue of taxing profits and income earned from within the digital economy.

So where are we now in terms of concrete proposals? Read David’s views below.

Newmarket goes platinum with new Xero Platinum Partners, Alliotts NZ

The team at Alliott NZ in Auckland is delighted to announce that we reached Xero Platinum Partner status in September.

What does going Platinum mean for Alliotts clients?

Protect your clients and your rep with Xero backup by Control-C

As Accountants and Xero Platinum Partners in Auckland, we regularly recommend that our clients use Xero.

Inevitably, our Xero clients also ask what would happen if Xero were to go into outage for an extended period or even ceased operations – how would they access their data and records.

Wayfair: Could the US Supreme Court decision open Pandora’s Box across the globe?

In the case of South Dakota vs. Wayfair, the United States Supreme Court may have opened a Pandora’s Box of tax compliance problems around the world as states seek to collect taxes they believe are due to them.

Alliott Group colleague Daryl R. Petrick of Californian accounting firm Bowman & Company, LLP, explains the decision and the potential reverberations for domestic and international retailers.

Cristiano Ronaldo and foreign high net worth individuals

Cristiano Ronaldo’s arrival at Juve highlights Italy’s attractive new tax regime for foreign high net worth individuals.

Cristiano Ronaldo’s summer switch to Juventus has sparked debate about not only sporting performance and statistics, but also the fiscal implications of his transfer to the club. In particular, Cristiano’s move has drawn attention to the optional tax regime for new residents in Italy. Find out more below in this article from partners Giorgio Marcolongo and Paolo Bifulco, a version of which also appeared in a recent copy of Rolling Stone magazine.

Intercompany transactions

Applying the Cost Plus Method

The pure cost-plus method is a method used to determine the sales price of a product or service between associated parties. As such, its aim is to determine a gross profit mark-up.

Although due date for CRS & FATCA disclosures has passed, NZ IRD still accepts late submissions

Financial institutions needed to report information about foreign tax resident financial accounts to us for the year ending 31 March 2018 by 30 June.

This is an annual obligation to comply with the Common Reporting Standard (CRS) and Foreign Account Tax Compliance Act (FATCA) legislation. IRD is due to exchange information internationally by 30 September 2018.