Tax & Accounting Blog

Part 2: Multiple Country-by-Country Reports & Multiple XML Schema

Part 2: Multiple Country-by-Country Reports & Multiple XML Schema

On March 22, 2016, the OECD published its standardized electronic format for the exchange of Country-by-Country (“CbC”) Reports between Competent Authorities, including the CbC extensible markup language (“XML”) schema and related User Guide. Both documents were developed to assist the speedy and consistent implementation of CbC Reporting with a view to accommodating the electronic … Read More

Compliance, reputational risk, and tax transparency

Compliance, reputational risk, and tax transparency

Whatever the forces are that have been promoting the benefits of tax transparency, they seem to be proving successful. Most respondents (53%) to our recent Thomson Reuters ONESOURCE survey said they think non-compliance with global regulations to promote tax transparency and curb tax avoidance can affect their institution’s reputation. These respondents were largely C-level executives … Read More

The South (Carolina) is Rising

The South (Carolina) is Rising

After decades of debate, beginning January 1st, 2017, several North Carolinians will become residents of South Carolina overnight as legislators have come to an agreement to redefine the border between the neighboring states. 16 homes in South Carolina and 3 others in North Carolina will be impacted immediately, effectively changing property tax rates and necessitating new drivers licenses for those … Read More

Singapore to Join Inclusive Framework to Implement BEPS Recommendations

Singapore to Join Inclusive Framework to Implement BEPS Recommendations

On June 16, 2016, the Singapore Ministry of Finance issued a press release saying that Singapore will join the “inclusive framework” for the global implementation of the BEPS project. Under this framework, all state- and non-state jurisdictions that commit to the BEPS project will participate as BEPS Associates of the OECD’s Committee on Fiscal … Read More