Tax & Accounting Blog

Maryland Sets 2017 Interest Rate on Refunds and Delinquent Taxes

Maryland Sets 2017 Interest Rate on Refunds and Delinquent Taxes

Pursuant to Article §13-604, the Maryland Comptroller is required to annually set the interest rate on refunds and moneys owed to the State. The Comptroller has announced that for the 2017 calendar year, the annual interest rate is 12%. (General Notice, Maryland Comptroller of the Treasury, Maryland Register Vol. 43, Issue 21, 10/14/2016.) For corporations and … Read More

OECD Highlights Tax Transparency and Beneficial Ownership

OECD Highlights Tax Transparency and Beneficial Ownership

On October 6, 2016, Angel Gurría, OECD Secretary-General, spoke at a G20 Finance Ministers and Central Bank Governors meeting in Washington, D.C. Gurría said that although governments have made great strides in combating offshore tax evasion and increasing transparency, challenges remain. Specifically, tax evasion continues to occur with the use of shell companies, … Read More

Import and Export Classification Risks

Import and Export Classification Risks

Blog, Global Trade, ONESOURCE October 14, 2016

Accurate product classification is one of the foundational components for moving product across borders.  In fact, import and export classification influences the basis for nearly every import and export transaction and the resulting tax and tariff assessment and fees levied by Customs and other regulatory authorities worldwide. Selecting the correct product classification is critical for … Read More