Tax & Accounting Blog

A Primer on NAFTA 2.0: What Everyone Wants

A Primer on NAFTA 2.0: What Everyone Wants

By Keith Haurie, Vice President of Business Development for ONESOURCE Global Trade at Thomson Reuters Because the Trump administration aims to renegotiate an historic trade deal, the North American Free Trade Agreement, on an accelerated timeframe, it should come as no surprise that there is substantial uncertainty surrounding the outcome. What each party to the negotiation … Read More

The Czech Republic Implements CbC Reporting Requirements

The Czech Republic Implements CbC Reporting Requirements

On September 20, 2017, the Czech Republic published Law No. 305/2017 in the official gazette to implement EU Directive 2016/881 on the exchange of country-by-country (CbC) reporting information among EU member states. The legislation had been pending review in the Czech Parliament for several months, since the Ministry of Finance presented it with … Read More

OECD Requests Public Feedback on Tax Challenges of Digitalization

OECD Requests Public Feedback on Tax Challenges of Digitalization

On September 22, 2017, the OECD issued a press release, seeking public comments on key issues identified in a request for input related to the tax challenges of the digitalization of the economy, a day after the European Commission released its initial report on the same topic. See BEPS Action 1. The BEPS … Read More

6 Biggest Challenges, and What To Do About Them, When Upgrading Legacy Sales Tax Software

6 Biggest Challenges, and What To Do About Them, When Upgrading Legacy Sales Tax Software

You’ve got a sales tax engine today and you’ve had it for a long time. Maybe you were around when it was first installed, or maybe you weren’t. Your company and systems have changed over the years but not your aging tax engine. Over time and to stay compliant with tax law, your company has … Read More

Brazil’s Special Customs Regime for Exportation and Manufacturing Incentives

Brazil’s Special Customs Regime for Exportation and Manufacturing Incentives

Blog, Global Trade, ONESOURCE September 22, 2017

What does the Company in Brazil need to know about competition? In order for Brazilian Companies to be competitive at this current moment in time they should be exploring all of the countries’ benefits in terms of localization, culture and technology. However, this only would be possible if companies can surpass high Brazilian costs and … Read More

U.S. Publishes Additional Model Competent Authority Agreement on Exchange of Country-by-Country Reports

U.S. Publishes Additional Model Competent Authority Agreement on Exchange of Country-by-Country Reports

On September 12, 2017, the U.S. Internal Revenue Service (IRS) published a model competent authority agreement (CAA) for the exchange of country-by-country (CbC) reports that is based on the OECD Multilateral Convention on Mutual Administrative Assistance in Tax Matters (the “OECD Convention”). The foregoing CAA supplements the CAAs that the IRS published on … Read More