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Wolters Kluwer (WTKWY) is a global leader in digital knowledge solutions and cloud software for tax, finance, accounting, and legal professionals. With offerings like the SAP Document and Reporting Compliance solution integrated with the CCH SureTax solution, Wolters Kluwer helps multinational companies manage U.S. tax filing obligations efficiently. The company serves customers in over 180 countries and reported 2022 annual revenues of €5.5 billion.
Wolters Kluwer reported its full-year 2022 results, revealing revenues of €5,453 million, a 5% increase in constant currencies and 6% organically. Recurring revenues, accounting for 80% of total revenues, rose by 7% organically. Adjusted operating profit increased to €1,424 million, with a margin of 26.1%. Diluted adjusted EPS reached €4.14, up 8% in constant currencies. The company proposed a total dividend of €1.81 per share, a 15% rise. For 2023, it anticipates high single-digit growth in diluted adjusted EPS and announced a share buyback of up to €1 billion. A new division, Corporate Performance & ESG, will be formed to enhance synergies and capitalize on growth opportunities.
Wolters Kluwer Tax & Accounting has launched the Whole Ball of Tax, a media resource center designed for the 2023 tax filing season. This platform provides essential resources and expert insights to aid journalists and taxpayers. The IRS began accepting eFiled returns on January 23, 2023. Key resources include state-by-state tax guides on cryptocurrency, telecommuters, and student loan debt forgiveness implications. Federal tax changes involve 24 revised forms, including those influenced by the Inflation Reduction Act. Experts are available for commentary and analysis.
Wolters Kluwer ELM Solutions’ LegalVIEW Insights 2023-1 report highlights that corporate legal departments possess substantial negotiation power over law firm rates, countering the belief that rate increases are inevitable. The study reveals that 32% of Am Law 100 timekeepers experienced no rate increases from July 2021 to June 2022, while 13% saw decreases. Notably, 21% of law firm timekeepers achieved increases over 10%. In the financial sector, timekeepers billed an average increase of 5.9%. The report suggests that organizations can effectively challenge the pricing norms of large firms.
Wolters Kluwer released expert reports analyzing key economic tax and employment reforms from the 2023 Singapore Budget announced by Deputy Prime Minister Lawrence Wong on
Wolters Kluwer Compliance Solutions, in collaboration with Compliance Week, is hosting a complimentary webinar on February 21, 2023, at 2 PM ET. The panel, titled “Connecting the Compliance-Related Dots,” will discuss the importance of maintaining an authoritative source library (ASL) in regulatory change management. The event will feature expert insights and the opportunity for attendees to earn CPE credits.
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