With PwC Australia facing a budding tax leaks scandal in 2019, the Big Four professional services firm paid for a senior government tax official to fly to Paris to address its global tax conference for clients and partners, according to a report. (Australia Financial Review)
- A Bermuda implementation of a global minimum tax would inevitably cut into the island’s status as a tax haven for international business, but it’s unlikely to sink its appeal as a hub for insurance and reinsurance companies, industry professionals said. Bermuda announced in August that it’s considering a 9% to 15% corporate tax starting 2025 to comply with a requirement in Pillar 2 in the OECD’s international tax reform. Practitioners said the tax will affect business operations on the island, but it could also give the jurisdiction an opportunity to build a new, better taxation system. (Business Insurance)
Taxes and Business
Hotel industry companies in the Paris and Ile de France region are furious at a proposal to hike a tourist accommodation tax by as much as 200% starting next year. The hike, which could be added to the government’s draft 2024 budget as an amendment in Parliament, would go to fund improvements to public transportation, reports said. (Capital)
The increase would raise the tourist tax on a stay in a Paris three-star hotel from the current 1.88 euros per night to 5.63 euros ($5.96) per night. (FranceInfo)
Laterals, Moves, Promotions
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PwC Legal’s German transactions practice is getting two experienced corporate partners from EY Law. Nicole Franke, who was at EY’s Düsseldorf office, joins PwC as a salaried partner. Munich-based Claus Elfring joins PwC as an equity partner. (Juve.de)
