Tax & Accounting Blog

Survey Says Internal Auditors Need More Support from Management

Internal auditors feel they need more visible and vocal support from senior management within their organizations as the changing demands of today’s regulatory and risk environment put  them under increasing pressure to do more with less, according to a new Thomson Reuters survey. In the survey, over 57% of respondents indicated that increased focus on … Read More

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The 2012 ktMINE Royalty Rate Resource Guide Provides Market Transparency and Transactional IP Insights

It is estimated that intellectual property (IP) represents at least 80% of corporate value across the globe. The recently released ktMINE Royalty Rate Resource Guide can help transfer pricing and valuation analysts seek clarity when benchmarking IP transactions. This guide provides insight into royalty rate trends from 25 industries spanning the past 12 … Read More

New York Tax Leaders Help Each Other with Data Management Issues

New York Tax Leaders Help Each Other with Data Management Issues

Some of the topics discussed at last week’s tax data management roundtable discussion included growing global operations and the need for accuracy and speed in tax processes. The event featured 40 New York tax professionals from companies in the area and many in attendance expressed that multiple systems were a challenge, especially with systems that aren’t integrated. Data can be difficult to find when it’s located … Read More

APB 23:  ETR Ally, Audit Risk or Both?

APB 23: ETR Ally, Audit Risk or Both?

What is APB 23? APB 23 (codification effort notwithstanding, old habits die hard) provides an exception to the general rule that a U.S. multinational company must provide U.S. taxes on the foreign earnings of its controlled non-U.S. affiliates. More specifically, APB 23 is the accounting rule that allows a U.S. multinational to assert that its … Read More

Maruca announces creation of International Practice Networks for Transfer Pricing

Maruca announces creation of International Practice Networks for Transfer Pricing

Two international practice networks have launched within the transfer pricing operation of the IRS. Transfer Pricing Director Samuel Maruca has announced the formation of two new International Practice Networks within the IRS focusing on in-bound and outbound income shifting in order to bring a higher level of professionalism within the service.  This is part … Read More

New Indian White Paper Focuses on Potential Tax Avoidance Through Transfer Pricing

New Indian White Paper Focuses on Potential Tax Avoidance Through Transfer Pricing

The Indian government recently released a new report, White Paper on Black Money. The report claims that more than 60% of international trade is conducted between related parties, and that the companies can exert significant influence in locating costs and revenues. Several practitioners have criticized the report as utilizing skewed information in terms … Read More