Tax & Accounting Blog

Global Indirect Tax Burden Eases in Q1, According to Thomson Reuters ONESOURCE Report

Global Indirect Tax Burden Eases in Q1, According to Thomson Reuters ONESOURCE Report

There were 30 percent fewer indirect tax increases reported globally in the first quarter of 2012 than there were during the same period in 2011, according to the latest ONESOURCE Indirect Tax rate report from Thomson Reuters. The number of indirect tax increases declined from 154 in Q1 2011 to 107 in Q1 2012. This … Read More

Residency for Tax Treaty Purposes for Individuals Part 4: The Tax Expatriation Rule

Residency for Tax Treaty Purposes for Individuals Part 4: The Tax Expatriation Rule

Tax code Sections 877 and 877A (the exit tax) impose special provisions on certain U.S. citizens who terminate their citizenship and long-term green-card holders who lose their status through abandonment (whether or not intentional) or revocation provided they meet certain criteria. As a result, most tax treaties include provisions limiting the eligibility of these individuals to use … Read More

Year-End Success Story #4: How SES Americom Inc. Added Consistency to the Year-End Process

Year-End Success Story #4: How SES Americom Inc. Added Consistency to the Year-End Process

“I would say that ONESOURCE has helped to add consistency to our year-end process.“ –Andrea Smith,   Senior Tax Analyst, SES Americom Inc. Andrea Smith, Senior Tax Analyst, SES Americom, Inc. explains how her tax department  initially had difficulty getting their provision done in a consolidated manner. After utilizing ONESOURCE, she was able to generate self-reconciling tax … Read More

A Simpler Way to Keep Track of Indirect Tax

A Simpler Way to Keep Track of Indirect Tax

Indirect tax – which encompasses consumption, transaction, value-added, and sales and use taxes – can cost businesses thousands of dollars to manage each year. Though keeping track of indirect tax is a legal obligation, staying on top of constantly changing tax rates and rules can be overwhelming. Additionally, if it is done incorrectly, businesses risk … Read More

Year-End Success Story #3: How Intermec Sped Up Their Provision By 2 Weeks

Year-End Success Story #3: How Intermec Sped Up Their Provision By 2 Weeks

Looking to free up time during your busiest season for more sleep, a vacation or to be with family more? Kim Gill, Sr. Tax Manager at Intermec shares how she’s spending her free time now that her tax department is experiencing significant time savings on their provision. “Before we started using ONESOURCE Tax Provision, one of the biggest challenges that … Read More

Residency for Tax Treaty Purposes for Individuals Part 3: The Savings Clause Exception

Residency for Tax Treaty Purposes for Individuals Part 3: The Savings Clause Exception

Because the United States imposes worldwide taxation on its citizens and immigrants (popularly called green-card holders), all U.S. tax treaties include a provision commonly referred to as a savings clause because it saves the right of the U.S. to tax its citizens and residents wherever they reside in the world. For example, Article 1(4), General Scope, … Read More