Tax & Accounting Blog

EY’s Jose Bustos on the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent BEPS (“MLI”)

EY’s Jose Bustos on the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent BEPS (“MLI”)

Jose Bustos of EY answered the following questions for BEPS Global Currents on August 21, 2017 regarding the OECD BEPS Multilateral Instrument (MLI): Q: The U.S. has decided not to sign the BEPS MLI for now. What impact may that have, if any, on U.S. tax treaties overall? A: First, it is important to … Read More

Bank account reconciliation

Bank account reconciliation

Reconciling bank accounts is a complex process, but in Accounting CS®, the Actions > Reconcile Bank Accounts screen and the Actions > Reconcile Impound Bank Accounts screen enable you to easily reconcile your bank accounts. You can download transaction data from your financial institution and then match and clear those transactions against transactions … Read More

UK’s DPT Challenge to Glencore – Can One Defend 80 Percent of the Profits for 20 Percent of the Functions?

UK’s DPT Challenge to Glencore – Can One Defend 80 Percent of the Profits for 20 Percent of the Functions?

Saumyanil Deb and I noted that the UK Diverted Profits Tax should allow taxpayers a chance to defend its intercompany pricing based on a reasonable model of the intercompany transaction in question. In an earlier paper, I posed a simple model of the appropriate gross margin for a sales affiliate, which we applied to the … Read More