Tax & Accounting Blog

New Jersey Sports Fans’ Fantasy Leagues Are Sales Tax-Free

New Jersey Sports Fans’ Fantasy Leagues Are Sales Tax-Free

The following was written by Ruth Jeremiah and posted on her behalf. New Jersey Division of Taxation has determined that fantasy sports entry fees are not subject to tax. This ruling stems from an Austin, TX taxpayer that runs a fantasy sports website and charges taxes for entry fees for various professional sports leagues, … Read More

Will US Country-by-Country Voluntary Filing Offer A Reasonable Alternative to Fulfill 2016 Tax Year Obligations?

Will US Country-by-Country Voluntary Filing Offer A Reasonable Alternative to Fulfill 2016 Tax Year Obligations?

BEPS, Blog, ONESOURCE November 3, 2016

The US regulations provide that Country-by-Country (“CbC”) Reporting for US HQ MNEs must be filed with the ultimate parent entity’s income tax return for the taxable year beginning on or after June 30, 2016. In contrast, pursuant to the OECD guidance, CbC reporting is to become effective for fiscal years starting on or after January … Read More

Hong Kong Launches Consultation on Implementation of OECD BEPS Measures

Hong Kong Launches Consultation on Implementation of OECD BEPS Measures

As a major trading centre, Hong Kong's commitment to, and implementation of, the OECD/G20 BEPS measures is of considerable interest. Hong Kong is an Associate in the inclusive framework established by the OECD for implementing the BEPS package. In a significant development, the Hong Kong Government on October 26, 2016 launched a consultation … Read More