Tax & Accounting Blog

GST is being touted as one of the single biggest economic reform in India since liberalization and one that promises to change the way India does business. This is Part 1 of a two part blog series discussing the challenges for corporations implanting the impending India’s Goods and Services Tax requirement. You can read … Read More

On February 24, 2017, the U.S. Internal Revenue Service (IRS) published draft instructions on filing country-by-country (CbC) reports in the U.S. This follows the draft versions of the CbC reporting forms IRS released on December 8, 2016 (Form 8975 (Country-by-Country Report) and Schedule A (Form 8975) (Tax … Read More

On December 2, 2016, the Belgian Ministry of Finance issued a press release stating that the Belgian Council of Ministers adopted a new tax deduction for innovation income. The new rules will extend the scheme to small and medium-sized enterprises (SMEs) and replace the deduction for patent income, which was repealed. According to … Read More

Poland has joined the OECD Inclusive Framework for the global implementation of the BEPS project. As an OECD member, Poland has committed to implementing the four BEPS project minimum standards (i.e., Actions 5 (exchange of tax ruling information only), 6, 13 (country-by-country (CbC) reporting only), and 14 (mutual agreement procedure only). Poland Read More

One of the key points during the 2016 U.S. Presidential campaign was free trade and in particular NAFTA.  The two major candidates both seemed to be in agreement on one major point and that was that NAFTA needed to be revised.  The election is over and the new president is in his first 100 days … Read More

Singapore's 2017 Budget was handed down on February 20, 2017 by the Minister for Finance, Mr, Heng Swee Keat. It contains many tax changes including a new Intellectual Property (IP) regime that IRAS notes incorporates the BEPS-compliant modified nexus approach. The new IP Regime is designed to encourage the exploitation of … Read More