In 2023, the Organisation for Economic Co-operation and Development (OECD) reported a stable average tax-to-GDP ratio of 33.9% among its member countries. This level represents a slight decrease of 0.1 percentage points compared to 2021 and 2022 but remains above the pre-pandemic average of 33.4% observed in 2019. The data reveals a delicate balance as...
Setting up and installing QuickBooks, though designed to be user-friendly, requires precise execution to ensure accuracy in future financial records. The process involves gathering and organizing information akin to setting up manual accounting records, a task that becomes even more intricate if transitioning from a traditional bookkeeping system to QuickBooks mid-year. The success of QuickBooks...
In today’s complex economic environment, businesses are constantly seeking ways to maximize profitability while minimizing costs. One of the most significant areas where companies can enhance their financial efficiency is through effective tax planning. In Jamaica, with its intricate tax regulations and evolving compliance requirements, businesses must navigate a variety of challenges to ensure they...
In a globalized economy, understanding the relationship between tax revenue and economic output is crucial for evaluating the fiscal health of a nation. The tax-to-GDP ratio serves as a key indicator of this relationship, measuring a country’s tax revenue relative to the size of its economy. This metric is not just a number; it reflects...
The implementation of the Pillar Two minimum tax portion of the OECD’s international plan to address tax base erosion and profit shifting (BEPS) is making significant strides, with global adoption rapidly increasing. The Organization for Economic Cooperation and Development (OECD) provided a detailed update to the Group of 20 (G20) nations, emphasizing the progress and...
In a significant ruling, the Tax Court of Canada has determined that distributions to shareholders following the sale of the Canadian video game company Digital Extremes Ltd. should be taxed as employee benefits rather than dividends. The decision underscores the necessity for clear allocation of shares within trusts to qualify for capital gains taxation. The...
In the intricate world of accounting, IAS 12 plays a pivotal role in the treatment of income taxes. This standard, established by the International Accounting Standards Board (IASB), provides comprehensive guidelines on the accounting treatment for income taxes, including both current and deferred tax. Scope and Overview of IAS 12 IAS 12 prescribes the accounting...
In the wake of the 1999 Asian financial crisis, representatives from the 20 largest economies in the world decided to gather informally to coordinate policy on trade, forming the Group of Twenty, or G20. This bloc, accounting for more than 85% of the world economy, has been credited with unified policy actions in response to...
In today’s interconnected world, setting corporate tax rates has become a strategic move for countries seeking to attract businesses and increase their tax revenues. This competition has often been termed a “race to the bottom,” where nations lower their tax rates to lure companies to their shores. In some cases, this race has reached rock...
Tax strategy is a critical component of business planning and management, especially for companies operating in the Caribbean. With its unique tax regimes and diverse economic landscape, mastering tax strategies can provide significant advantages for businesses in the region. This article explores essential tips and best practices for businesses to effectively manage their tax obligations...
Dawgen Global is an integrated multidisciplinary professional service firm in the Caribbean Region. We are integrated as one Regional firm and provide several professional services including: audit,accounting ,tax,IT,Risk, HR,Performance, M&A,corporate recovery and other advisory services
Dawgen Global is an integrated multidisciplinary professional service firm in the Caribbean Region. We are integrated as one Regional firm and provide several professional services including: audit,accounting ,tax,IT,Risk, HR,Performance, M&A,corporate recovery and other advisory services
© 2023 Copyright Dawgen Global. All rights reserved.
© 2024 Copyright Dawgen Global. All rights reserved.
