Tax & Accounting Blog

Kentucky Governor Reoganizes, Creates New Kentucky Claims Commission

Kentucky Governor Reoganizes, Creates New Kentucky Claims Commission

As a part of the Kentucky Governor’s reorganization efforts, the Kentucky Board of Appeals, Kentucky Claims Commission, and the Crime Victims Compensation Board will cease to exist individually. Effective October 1, 2016, the three groups will collectively become the Kentucky Claims Commission. The executive order, issued on August 8, 2016, also instantaneously terminated the current … Read More

Alaskan Boroughs

Alaskan Boroughs

Did you know that there are not counties in Alaska? Instead, Alaska has 19 boroughs which are their county-equivalent government between the city and state level. Alaska is unique in the United States in that only a portion of the state is covered by boroughs, in every other state the county-equivalent entities cover … Read More

Luxembourg Issues Draft Law on Country-by-Country Reporting

Luxembourg Issues Draft Law on Country-by-Country Reporting

On August 2, 2016, Luxembourg’s Parliament issued a draft law that would implement EU Directive 2016/881 regarding the automatic and mandatory exchange of tax information and country-by-country (CbC) reporting for multinational companies. See BEPS Action 13. The ultimate parent entity of a group of multinational companies that are Luxembourg … Read More

Does Ritz-Carlton Deserve the Fine for Uplifting Price after China VAT Reform?

Does Ritz-Carlton Deserve the Fine for Uplifting Price after China VAT Reform?

In late July, Ritz-Carlton and Crown Plaza hotels in Beijing, together with other four companies in the real estate and hospitality (hotel, catering) sectors, were fined by China for using VAT reform to justify price uplift. Based on complaints received by price watchers, the National Development and Reform Commission (NDRC) led an investigation … Read More

Assam Ratifies GST Amendment

Assam Ratifies GST Amendment

The GST Amendment has been ratified first in the north-eastern Indian state of Assam. The BJP which is the majority at the national level, also is in the majority in Assam Legislative Assembly. The BJP controls the state assemblies in the following states: Gujarat Madhya Pradesh Chhattisgarh Rajasthan Goa Haryana Maharashtra Jharkhand So it … Read More