Tax & Accounting Blog

Belgium Introduces New Tax Deduction for Innovation Income

Belgium Introduces New Tax Deduction for Innovation Income

On December 2, 2016, the Belgian government issued a press release stating that the Belgian Council of Ministers has adopted a new tax deduction for innovation income, which is being reviewed by the Belgian State Council. Once enacted, the new rules would extend the scheme to small and medium-sized enterprises (SMEs) and replace … Read More

Our New User Experience Showcased in the Cloud

Our New User Experience Showcased in the Cloud

The Thomson Reuters ONESOURCE™ Indirect Tax Product Management team has been writing lately about the many different aspects of the cloud.  In collaboration with our marketing department we recently published an excellent whitepaper titled, “Why Cloud? Why Now”. If you’d like to read it, you can download it here.  We have also been hard … Read More

The Challenges for Growth and Development in Thailand

The Challenges for Growth and Development in Thailand

Background Trade Automation and electronic customs initiatives, including the concept of “Single Window” was introduced and has been widely discussed on a global scale for a few decades.  Specifically as to serve the needs of businesses and customs authorities; complementing one another in order to increase efficiencies, save money, reduce costs and enhance competitiveness among … Read More

OECD Releases Updated Guidance on Implementation of Country-by-Country Reporting

OECD Releases Updated Guidance on Implementation of Country-by-Country Reporting

On December 5, 2016, the OECD released updated guidance on  the implementation of country-by-country (CbC) reporting under BEPS Action 13. The OECD also released a database containing information on CbC reporting implementation by various countries to date. The December 5th guidance updates the Q&A guidance issued by … Read More

European Commission Unveils VAT Proposals for E-Commerce Transactions

European Commission Unveils VAT Proposals for E-Commerce Transactions

On December 1, 2016, the European Commission (the “Commission”) issued a press release on proposed measures to improve the Value Added Tax (VAT) environment for e-commerce businesses in the EU, such as start-ups and small and medium enterprises (SMEs). See the Commission’s accompanying Fact Sheet and BEPS … Read More