Tax & Accounting Blog

How Big Data/Data Analytics Will Transform Supply Chains – Part 1

How Big Data/Data Analytics Will Transform Supply Chains – Part 1

Blog, Global Trade, ONESOURCE December 29, 2017

Your cell phone receives a text message indicating that import declarations for critical parts required in your China factory missed today’s deadline for filing with your customs broker. The manager of logistics receives an alert that port traffic in Los Angeles may delay by 48 hours the receipt of critical raw materials prompting your logistics … Read More

What to Expect From MERCOSUR/ EU Agreement

What to Expect From MERCOSUR/ EU Agreement

Blog, Global Trade, ONESOURCE December 23, 2017

The European Union is currently in negotiations to enter a trade agreement between MERCOSUR and its founding member countries – Brazil, Argentina, Paraguay and Uruguay, with Venezuela acting as an observer. Among the most relevant aspects that should be taken into consideration in assessing the prognosis for Brazil in the event of a possible signing … Read More

U.S. Congress Releases Joint Report on Tax Cuts and Jobs Act

U.S. Congress Releases Joint Report on Tax Cuts and Jobs Act

On December 15, 2017, the U.S. Congress released the Conference Report on the Tax Cuts and Jobs Act, as well as a Joint Explanatory Statement. The summary below highlights several of the international tax provisions addressed by the Conference Committee. Deduction for foreign-source portion of dividends received … Read More

Portugal Approves Country-by-Country Notification Form

Portugal Approves Country-by-Country Notification Form

On December 11, 2017, the Portuguese government issued Order 367/2017 approving the model declaration, “Communication of the Identification of the Declarant Entity – Financial and Tax Declaration by Country” (Model 54), under Article 121-A(4) of the Income Tax Code (ITC). The declaration, which represents a notification for … Read More

Meaningful Changes to REPETRO SPED Could Rebuild the Oil and Gas Sector in Brazil

Meaningful Changes to REPETRO SPED Could Rebuild the Oil and Gas Sector in Brazil

Brazil has several customs programs that provide incentives to the oil and gas sectors, one of which is the Special Regime of Incentives for the Development of the Oil Industry Infrastructure, better known by its Brazilian acronym – REPETRO. REPETRO is a special customs program that was designed for the export and import of goods … Read More