Tax & Accounting Blog

Louisiana Legislature Reinstates Suspended Sales Tax Exemptions

Louisiana Legislature Reinstates Suspended Sales Tax Exemptions

Earlier this year, the Louisiana State Legislature held an extraordinary session to address their state’s looming budget shortfall. To produce badly needed revenue, the state suspended its complicated array of sales tax exclusions and exemptions, temporarily replacing them with a much shorter list of products and services not subject to tax. However, Gov. John … Read More

Part 2: Multiple Country-by-Country Reports & Multiple XML Schema

Part 2: Multiple Country-by-Country Reports & Multiple XML Schema

On March 22, 2016, the OECD published its standardized electronic format for the exchange of Country-by-Country (“CbC”) Reports between Competent Authorities, including the CbC extensible markup language (“XML”) schema and related User Guide. Both documents were developed to assist the speedy and consistent implementation of CbC Reporting with a view to accommodating the electronic … Read More

Compliance, reputational risk, and tax transparency

Compliance, reputational risk, and tax transparency

Whatever the forces are that have been promoting the benefits of tax transparency, they seem to be proving successful. Most respondents (53%) to our recent Thomson Reuters ONESOURCE survey said they think non-compliance with global regulations to promote tax transparency and curb tax avoidance can affect their institution’s reputation. These respondents were largely C-level executives … Read More

The South (Carolina) is Rising

The South (Carolina) is Rising

After decades of debate, beginning January 1st, 2017, several North Carolinians will become residents of South Carolina overnight as legislators have come to an agreement to redefine the border between the neighboring states. 16 homes in South Carolina and 3 others in North Carolina will be impacted immediately, effectively changing property tax rates and necessitating new drivers licenses for those … Read More