TaxTreasury Management
January 19, 2021

Learning New Strokes: A Treasurer Adds Tax to Her Skill Set

One NeuGroup member has “had to learn from doing” to tackle tax—and also tap internal and external experts.When the head of tax at a midsized multinational company left to take another job a couple of years ago, the CFO tapped the treasurer to run tax, too. The treasurer shared some of the challenges she faced and how she addressed them at a recent meeting of the Treasurers’ Group of Thirty and in a follow-up interview.A difficult beginning. Three of four…
TaxTreasury Management
January 7, 2021

Learning a New Language: Tax Experts Who Become Treasurers

Insights and advice from a tax professional who left her comfort zone to become treasurer. A “steep learning curve” is how one member of NeuGroup’s Treasurers’ Group of Thirty (T30) who has extensive experience in tax described what she encountered in taking on the added responsibility of treasury at her company at a recent meeting sponsored by Standard Chartered. She is one of several members in the group who previously led tax teams and are relatively new to leading treasury. Below…
Cash & Working CapitalComplianceTax
October 22, 2020

Cash Pooling: What Treasury Teams at Multinationals Need to Know Now

An update of a story—one of NeuGroup’s most-read articles—about physical and notional cash pooling. By Susan A. Hillman, Partner, Treasury Alliance Group LLC Eight months into the global pandemic, liquidity and cash remain top-of-mind for many multinational corporations coping with uncertainty over the shape and timing of economic recovery. That makes this an opportune time to reexamine a critical liquidity management tool that has been around for decades but has always required careful evaluation before implementation: cash pooling. Further due…
COVID-19TaxTreasury Management
September 10, 2020

Auditors Eye Risks of Not Knowing Where Remote Workers Call Home

Employees who move to other states or countries raise tax issues, and others, for employers. Everyone knows that millions of people are still working from home (WFH). But not every employer knows exactly where every employee is working—a potential headache discussed by members of NeuGroup’s Internal Auditors’ Peer Group (IAPG) at a recent virtual meeting. “We’re super worried about it,” said one auditor about the various tax, legal and compensation issues WFH can raise for corporates.It is critical that employers…
TaxTechnology
August 25, 2020

Saving Time in Brazil: Automating Tax Payments Speeds Product Delivery

A fintech helps a corporate cut hours on tax payments, allowing faster delivery and freeing up staff.  The first thing a treasury professional learns about business realities in Brazil is that there are a lot of taxes and they take many hours to process. The space is ripe for disruption, and a fintech called Dootax is doing just that.   At a recent meeting of NeuGroup’s LatAm Treasury Peer Group, a member from a megacap multinational shared the progress of…
Capital MarketsESGTax
July 23, 2020

A Green Light for Tax Equity Investments in Renewable Energy

There’s still time for corporates to benefit from federal tax credits and reap attractive returns.The final session of NeuGroup’s final H1 meeting featured a presentation on green and sustainability-linked finance by U.S. Bank, sponsor of the NeuGroup for Retail Treasury. Below are some key takeaways from the session as distilled by Joseph Neu, founder of NeuGroup and leader of the retail group. Update your view on the ROI of tax equity structures. Commenting on the cash flows from a transaction presented…
ComplianceRegionalSenior ExecutiveTax
January 15, 2020

What China’s Individual Income Tax Changes Mean for Corporates, Expats

CFOs with employees in the country need to plan for new residency rules and ensure compliance. The most significant reform of China’s individual income tax (IIT) laws in 38 years has numerous implications for foreign workers and the multinational corporations that employ them. Michelle Zhou, a partner at KPMG, presented many of the critical elements of the changes to a group of CFOs at a recent NeuGroup meeting in Shanghai. Big picture. CFOs—who are responsible for income reporting—need to proactively…
ComplianceRegionalSenior ExecutiveTaxUncategorized
January 15, 2020

China’s Corporate Social Credit System: What Corporates Need to Know and Do Now

The implications and challenges for corporates facing a new world of ratings. Full implementation of China’s corporate social credit system (SCS) is slated for the end of 2020—a reality with huge implications for multinationals doing business in the country. And that means more work for many CFOs and finance teams. CFOs are often in charge of coordinating the final reporting of data provided by multiple areas of the company and ensuring there is no conflicting information. They’re also responsible for…