cross-border-reporting

Vocabulary Word

Definition

Cross-border reporting means reporting on news or events that occur across different countries. It's not limited to just what's happening in one country but looks at a range of places and their connections.

Examples in Different Contexts

For tax compliance, 'cross-border-reporting' refers to the declaration of income, assets, or transactions that span multiple jurisdictions, to adhere to international tax laws. A tax consultant might explain, 'Effective cross-border-reporting is essential for multinational corporations to avoid penalties and ensure transparency.'

Practice Scenarios

Business

Scenario:

There's a lot of chatter about a potential merger between two multinational corporations. We should consider all implications carefully.

Response:

Good point. We can use cross-border reporting to analyze the potential impact on global markets.

Impact

Scenario:

There's a lot of concern over the recent deforestation rates in the Amazon rainforest. We may need to understand the potential global impacts.

Response:

Absolutely. Cross-border reporting would throw light on deforestation's repercussions on global climate patterns.