PwC's Shorts Reads - September Edition
1. Crafting an effective carbon strategy for a sustainable future
As the first half of 2023 comes to an end, the undeniable reality of climate change is clearer than ever. The global climate crisis has reached a critical tipping point, as experts highlight the need for urgent action.
2. Economic Outlook
Growth forecasts for FY23 have been revised slightly upward since our last economic update, with Euro Area, UK and US coming out less muted than previously expected.
In our last economic update, taking January 2023 forecasts, the global economy was expected to grow by 1.6% in 2023. This figure has been revised upwards in July, with the global economy set to grow by 2.5% for this current year.
3. Country-by-Country Reporting
Country-by-country reporting is a mechanism that requires Multinational Enterprises (MNEs) to provide detailed information about their operations, revenues, profits, taxes paid and other indicators in the jurisdictions where they operate. The aim of Country-by-country Reporting (CbCR) is to prevent tax avoidance and ensure taxation aligns with economic activities.
4. Some VAT considerations - City Cards
City cards are specialised cards purchased by individuals mostly to gain access to tourist attractions or to use public/private transportation within a specific geographical area. These cards were the subject of discussion by the VAT Committee concerning their treatment for VAT purposes.
5. Global Workforce Hopes and Fears Survey 2023
PwC’s fourth edition of the Global Workforce Hopes and Fears Survey reveals a complex reality for senior executives. The survey, which gathered responses from 54,000 workers across 46 countries, finds that sizable pockets of the global workforce are eager to learn new skills, embrace artificial intelligence (AI) and tackle new challenges.
6. Internal Audit ESG Hat
Internal Auditors are continuously expected to wear different hats when executing their roles. Regulators, investors and other stakeholders are directing their attention to ESG (Environmental, Social & Governance) reported information. As the regulatory focus on ESG continues to expand, ESG reporting is even more imperative.
7. 6 generative AI business myths that will make you rethink everything
Generative AI is different from other emerging technologies in many ways. The most important difference? Mere months after it hit the media spotlight, generative AI is already requiring business leaders to fundamentally question how work gets done and their business is run.
8. New VAT Guidelines within the Health Industry
The Commissioner for Tax and Customs (‘CfTC’) has published new guidelines for the VAT treatment of Health Care services which are based on the provisions of the EU VAT Directive 2006/112/EC and jurisprudence of the Court of Justice of the European Union.