Tax & Accounting Blog

Personal Property Exemption Changes in Idaho

Personal Property Exemption Changes in Idaho

Idaho legislation has enacted House Bill H315 (effective retroactive to  1/1/2013), which provides an exemption from property taxes for the first $100,000 of a taxpayer’s personal property that is not otherwise exempt from taxation, except for certain vehicles that a registration fee has not been paid. Taxpayers must file an application for the exemption. Previously, … Read More

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Cayman Islands will Adopt an Intergovernmental Agreement for FATCA Implementation

The Cayman Islands Government has announced that it will adopt an intergovernmental agreement (IGA) with the United States for implementation of the U.S. Foreign Account Tax Compliance Act, commonly known as FATCA. The Caymans-U.S. IGA will follow the “Model 1” for FATCA cooperation which was drafted by the U.S. Department of the Treasury, giving the … Read More

Russia – Exemption for Software Rejected

Russia – Exemption for Software Rejected

On March 31st the Russian government rejected a plan to amend the tax code to exempt software products from the value-added tax (VAT). The proposed exemption was intended to make licensed software products such as Microsoft Windows more affordable by excluding them from the country’s 18 percent VAT and thus combat counterfeiting. The government released a statement explaining … Read More