Multinational entities interested in participating in the first full round of the OECD Forum on Tax Administration (FTA) International Compliance Assurance Programme (ICAP) have until September 30 to submit the . . .
New York City Economist Dr. Harold McClure analyzes an example from the Australian Tax Office’s August 12 discussion paper on how to address the transfer pricing implications from the demise of London interbank rates, scheduled to . . .
The UK government on August 19 published guidance relating to the upcoming uncertain tax treatment notification requirement for large businesses, following the July 20 release of . . .
Suranjali Tandon from the National Institute of Public Finance and Policy, New Delhi, analyzes several court decisions issued in June and July that highlight implementation issues with India’s new “faceless” – i.e., digital – tax assessment scheme, which was intended . . .
An OECD taxation working paper on corporate effective tax rates for research and development (R&D) released on July 29 reports that the effective average tax rate on R&D investments in Ireland, Lithuania, and Hungary range from -2% to -4% – suggesting . . .
The US Internal Revenue Service on July 28 published two competent authority arrangements between the US and the UK that clarify the application of the limitation on benefits article in light of the UK’s exit from the EU (Brexit) and the entry into force of the US–Mexico–Canada Agreement (USMCA).
The UK on July 20 published draft legislation for Finance Bill 2021-22 to create an uncertain tax treatment notification requirement for large businesses and amend the tax rules for hybrids and other mismatches, among . . .
Vasiliki Koukoulioti, PhD researcher at Queen Mary University of London, discusses the questions that still surround the details of the global minimum tax agreement that G7 finance ministers reached on June 5 . . .
A draft communique for the upcoming G20 finance ministers meeting on July 9–10 includes language expressing the countries’ support for a global minimum tax and new rules . . .
With the 2021 interim reporting season rapidly approaching, the UK’s Financial Reporting Council (FRC) has provided examples companies should follow . . .
G7 finance ministers reached a momentous agreement on June 5 on a global corporate minimum tax and changes to the allocation of taxing rights between . . .
The UK’s Financial Reporting Council (FRC) on May 27 issued a revision of its auditing standard on the responsibilities of auditors relating to fraud. Revisions in ISA (UK) 240 (Revised May 2021) – The Auditor’s responsibilities Relating to Fraud in an Audit of
New York City Economist Dr. J. Harold McClure discusses the European Commission’s launch on May 20 of an initiative to address the use of shell companies in international arrangements . . .
The US Trade Representative on June 2 announced and then immediately delayed implementation of new tariffs on goods from six countries – Austria, India, Italy, Spain, Turkey, and the UK – in response to . . .
The Republic of Korea signaled its intention to heavily boost its semiconductor industry with an announcement on May 13 that it will offer up to 50 percent tax credits on research and development (R&D) investment and up to 20 percent . . .
The UK’s research and development (R&D) tax incentive policies have generated a poor return in terms of increased R&D investments, but there are ways to make the incentives more effective while saving taxpayer money, according to a study . . .
The UK’s Financial Reporting Council (FRC) on May 19 published a Thematic Briefing: The audit of cash flow statements, noting the results of the FRC’s constructive engagement findings and the efforts audit firms have taken to shore up the audit of cash flow statements . . .
The UK’s Financial Reporting Council (FRC) on May 4 announced the appointment of 19 members to its advisory panel, established a few months prior . . .
The UK’s primary interest in international tax talks is addressing digital taxation and the allocation of taxing rights under the OECD’s “Pillar One,” but it is okay with the US’s not-digital-only approach to Pillar One, according to Mike Williams . . .
The UK government, on April 15, tabled for the Committee of the Whole House amendments to Finance Bill 2021 relating to the corporate tax rules on hybrids and other mismatches . . .
Trade and civil society groups are critical of a proposal to revise the UN model tax treaty to include software payments within the definition of royalties. . .
While several countries have significantly boosted their support for business research and development (R&D) relative to their overall economies in recent years, total US government support for business R&D . . .
The UK HM Revenue and Customs is considering potential new transfer pricing documentation requirements that would require businesses to prepare and provide specific documentation to support their transfer pricing . . .
US MNEs paid substantially lower corporate taxes following the 2017 Tax Cut and Jobs Act, both domestically and globally, a March 19 report from the US congressional Joint Committee on Taxation concludes. . .
The European Commission reported on March 19 that it is referring the UK to the Court of Justice of the European Union for failing to comply with the Commission’s decision requiring it to recover €100 million of illegal state aid in Gibraltar. . .
The UK published its Finance Bill on March 11, detailing the tax provisions announced in the 2021 UK budget, including the super deduction to boost economic recovery and a review of the UK’s current R&D tax incentives. . .