Tax practitioners get help for cloud tech regulation
The obligations for operating in a cloud environment as a tax practitioner are increasingly complicated, so new assistance available is helping professionals with understanding their legal duties, according to the Tax Practitioners Board (TPB).
TPB chairman, Ian Taylor, has released guidance in the form of a cloud computing practice note, which outlined factors for consideration when practitioners entered into cloud arrangements. The guidance would also highlight negative consequences to inadequate cloud arrangements, as well as further reference information.
"The practice note provides practical assistance to tax practitioners, raising awareness of relevant considerations when entering into cloud arrangements and outlining where to find further information," he said.
"We are pleased to release the practice note to assist tax practitioners in understanding relevant obligations when operating in a cloud environment."
The finalised guidance would take consideration of feedback provided to the TPB after an exposure draft for stakeholder comment was released in October 2016.
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