Tax & Accounting Blog

What You Need To Know About BEPS: The Evolving List of Countries that Require a CbC Report for Fiscal Year 2016

What You Need To Know About BEPS: The Evolving List of Countries that Require a CbC Report for Fiscal Year 2016

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

Water System Installation is Double-Edged Sword in Eyes of Key West Residents

Water System Installation is Double-Edged Sword in Eyes of Key West Residents

Blog, Indirect Tax, ONESOURCE February 24, 2016

Residents of the Twin Ridge subdivision near Dubuque city, Iowa, are muffed over the city’s recent purchase of a $1.3 million water and sewer provider, viewing the purchase as a coercion to force an annexation of their community.  Although some see the purchase as a logical step due to current infrastructure, others view it as the … Read More

Russian Amendments to Controlled Foreign Corporation and Thin Capitalization Rules Enter into Force

Russian Amendments to Controlled Foreign Corporation and Thin Capitalization Rules Enter into Force

On February 15, 2016, Russian President Vladimir Putin signed Federal Law N 32-FZ (amending Chapter 3.4. of the Russian Tax Code (Tax Code) with regard to controlled foreign corporations (CFCs)) and Federal Law N 25-FZ, which revises existing thin capitalization rules (Article 269 of the Tax Code). We will address each … Read More

Missouri Announces April 2016 New Quarterly Districts

Missouri Announces April 2016 New Quarterly Districts

Blog, Indirect Tax, ONESOURCE February 23, 2016

Four times a year, on a quarterly basis, Missouri Department of Revenue announces a new batch of local taxing jurisdictions.  “Community Improvement Districts” and “Transportation Development Districts” tax areas, which are the most common by far, are typically quite small in size, often ranging from just one business address to a handful in a single … Read More