Tax & Accounting Blog

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

GST Tackles Electronic Commerce

GST Tackles Electronic Commerce

The Finance Minister “officially” released the GST model law this week, it had been released a couple of months earlier. The model law confirms the dual GST system proposed for years. It also had a provision to address electronic commerce and its targets electronic commerce operators to collect and remit tax. Electronic commerce was defined … Read More

China: 1 year transition for e-commerce

China: 1 year transition for e-commerce

By Yanchen Zhou On 24 May 2016 , subject to State Council’s approval, China’s General Administration of Customs (GAC) announced the new administration rules (Shubanfa [2016] No.29) in the transitional period for cross-border e-commerce retail import. Suppliers of goods to Chinese consumers had been worried about how the new regulations could impact their bottom line … Read More