Tax & Accounting Blog

Highlights from Day 1 of the 2017 OECD International Tax Conference in Washington, D.C.

Highlights from Day 1 of the 2017 OECD International Tax Conference in Washington, D.C.

On June 5, 2017, the OECD began its two-day 2017 International Tax Conference in Washington, D.C., in partnership with the U.S. Council for International Business (USCIB). The OECD BEPS project was the focal point of each panel, which included discussions by government officials, OECD members, and multinational executives. Panel 1 – … Read More

U.S. and New Zealand Sign Competent Authority Arrangement to Exchange Country-by-Country Reports

U.S. and New Zealand Sign Competent Authority Arrangement to Exchange Country-by-Country Reports

On May 31, 2017, the U.S. Internal Revenue Service (IRS) updated its listing of competent authority arrangements (CAAs) between the U.S. and its treaty partners. The listing includes a CAA between the U.S. and New Zealand on the exchange of country-by-country (CbC) reports. See BEPS Action 13. Pursuant to the provisions of … Read More

What is the difference between a U.S. customs audit and an FTA verification?

What is the difference between a U.S. customs audit and an FTA verification?

What is the difference between a customs audit and a Free Trade Agreement (FTA) verification? An audit, is a broader inquiry that can cover any legal requirement whereas a verification is specific to origin and FTA compliance. Customs audits are generally more broad, focused on a wide range of customs issues and are typically risk-based, … Read More