Tax & Accounting Blog

Global Trade Trends: Regional Variances in Trade Operations

Global Trade Trends: Regional Variances in Trade Operations

Companies can exert little control over the macro conditions that impact trade, but they can use today’s low-growth trade environment as an opportunity to review and optimize their processes. Through the first nine months of 2016, net U.S. trade fell $470 billion, according to the Census Department. Although GDP growth might not be as robust … Read More

Norway Implements Country-by-Country Reporting Requirements

Norway Implements Country-by-Country Reporting Requirements

Following approval by the Norwegian parliament, on December 2, 2016, Norway amended the Tax Administration Act with the addition of a new § 4-13, implementing country-by-country (CbC) reporting. See BEPS Action 13. Under the new legislation, a parent company domiciled in Norway with enterprises abroad is required to submit, … Read More

Belgium Introduces New Tax Deduction for Innovation Income

Belgium Introduces New Tax Deduction for Innovation Income

On December 2, 2016, the Belgian government issued a press release stating that the Belgian Council of Ministers has adopted a new tax deduction for innovation income, which is being reviewed by the Belgian State Council. Once enacted, the new rules would extend the scheme to small and medium-sized enterprises (SMEs) and replace … Read More

Our New User Experience Showcased in the Cloud

Our New User Experience Showcased in the Cloud

The Thomson Reuters ONESOURCE™ Indirect Tax Product Management team has been writing lately about the many different aspects of the cloud.  In collaboration with our marketing department we recently published an excellent whitepaper titled, “Why Cloud? Why Now”. If you’d like to read it, you can download it here.  We have also been hard … Read More

The Challenges for Growth and Development in Thailand

The Challenges for Growth and Development in Thailand

Background Trade Automation and electronic customs initiatives, including the concept of “Single Window” was introduced and has been widely discussed on a global scale for a few decades.  Specifically as to serve the needs of businesses and customs authorities; complementing one another in order to increase efficiencies, save money, reduce costs and enhance competitiveness among … Read More