Tax & Accounting Blog

Brazil Updates FAQs on Country-by-Country Reporting Requirements

Brazil Updates FAQs on Country-by-Country Reporting Requirements

On June 9, 2017, Brazil issued updated FAQs on country-by-country (CbC) reporting. On December 29, 2016, Brazil published Normative Instruction No. 1681/2016, requiring CbC reporting for fiscal years that begin on or after January 1, 2016. See BEPS Action 13. The FAQs address the following considerations (among others): Whether extraordinary revenues and gains from … Read More

Brazil Issues Transitional Relief Measures for 2016 Country-by-Country Report Filings

Brazil Issues Transitional Relief Measures for 2016 Country-by-Country Report Filings

On May 25, 2017, Brazil published RFB Normative Instruction No. 1,709/2017 in the official gazette to amend certain parts of the country-by-country (CbC) reporting rules in Normative Instruction No. 1,681/2016 (issued on December 29, 2016). Brazil introduced CbC reporting via Normative Instruction No. 1,681/2016 for fiscal years that begin on or after … Read More

HS Classification: Customs Compliance Issues Affecting Companies in Vietnam

HS Classification: Customs Compliance Issues Affecting Companies in Vietnam

Vietnam has adopted and maintained the World Customs Organization (WCO) Harmonized Commodity Description and Coding System since March 1998.  Subsequently, additional laws and changing regulations have been added leading to additional challenges for Vietnamese companies and the Multi-National Corporations moving operations to Vietnam. In Vietnam, all export and import shipments are required to have a … Read More

Highlights from Day 2 of the 2017 OECD International Tax Conference in Washington, D.C.

Highlights from Day 2 of the 2017 OECD International Tax Conference in Washington, D.C.

On June 6, 2017, the OECD completed its two-day 2017 International Tax Conference in Washington, D.C., in partnership with the U.S. Council for International Business (USCIB). As with day 1 of the event, the OECD BEPS project was the focal point of the panels on day 2, which included discussions by government officials, … Read More

Opportunities and Challenges of Chinese MNCs’ Going Global

Opportunities and Challenges of Chinese MNCs’ Going Global

Understanding the different compliance requirements across multiple regions can be very challenging. Global regulations are not only complex but can change daily. Because of the increased expectation that companies pivot and adjust to these changes, Chinese Multi-National Corporations (MNC) have implemented behaviors to help them deal with these diverse complexities, specifically ensuring their subsidiaries can … Read More