Tax & Accounting Blog

2016 India Budget Speech Raises Taxes

2016 India Budget Speech Raises Taxes

Budget Speech 29 February 2016 was the presentation of the 2016 Budget Speech in India’s Parliament. India’s Budget Speech lays out the spending programs for the government for the year and proposes changes to different legislation to be made during the Budget Session. This years’s budget session will run last from 23 February to 13 May … Read More

New Accounting Methodologies for Processing Trade

New Accounting Methodologies for Processing Trade

On the 6th of November 2015, China’s General Administration of Customs released the ‘Announcement on Developing Work order Write-off (WOW) of the Processing Trade’ (Announcement No. 53 [2015]), to develop the practice and clarify the management method of work order write-off for processing trade. By definition, work order[1] write-off means enterprises can file … Read More

What You Need To Know About BEPS: Country-by-Country Report Preparation for MNE’s

What You Need To Know About BEPS: Country-by-Country Report Preparation for MNE’s

The rules are now clear. Every MNE with at least 750 million Euro of revenue in 2015 must prepare Country-by-Country (CbC) reports for the 2016 fiscal year. If the ultimate parent company does not file, then a surrogate or the local entity will most likely be required to comply. The timeline seems to afford MNEs … Read More