Tax & Accounting Blog

How the Common Reporting Standard (CRS) and Global Trends are Affecting Financial Institutions’ Use of Technology

How the Common Reporting Standard (CRS) and Global Trends are Affecting Financial Institutions’ Use of Technology

The drive for global tax transparency continues to gain speed while financial institutions (FIs) also grapple with emerging disruptive financial technology innovations and growing threats to data security. Building on the U.S.-led FATCA regulations, the first wave of reporting for the OECD-led initiative, the CRS, includes 49 jurisdictions undertaking the first exchange of financial information … Read More

BEPS and Other Notable Int’l Measures in Final U.S. House GOP Tax Reform Bill

BEPS and Other Notable Int’l Measures in Final U.S. House GOP Tax Reform Bill

The release of major tax reform legislation in the U.S. is generating great interest around the world. The proposal to cut the U.S. corporate tax rate significantly, and the potentially dramatic effect on international taxation generally, make the legislation that much more important. On November 2, 2017, the Republican members of the U.S. House of … Read More

ITC Recommends Imposing Import Restrictions on Solar Cells and Modules

ITC Recommends Imposing Import Restrictions on Solar Cells and Modules

Blog, Global Trade, ONESOURCE November 10, 2017

The U.S. International Trade Commission (ITC) formally initiated a Section 201 “global safeguard” investigation on May 23, 2017, on crystalline silicon photovoltaic (CSPV) solar cells and modules. A formal complaint was brought about by Suniva, Inc. and SolarWorld, two small U.S. manufacturers that said they were unable to compete with cheap panels made overseas; mainly … Read More

Belgium Implements Anti-Tax Avoidance Measures

Belgium Implements Anti-Tax Avoidance Measures

On October 27, 2017, Belgium issued an overview of tax reform proposals, several of which implement EU Directive 2016/1164 of July 12, 2016 (ATAD 1) (the “Directive”) regarding hybrid mismatches, controlled foreign companies (CFCs) and limitation on interest deductions. On October 27, 2017, the Belgian Ministry of Finance also announced … Read More

How Retail’s Evolution Impacts Tax Nexus, Amazon Edition

How Retail’s Evolution Impacts Tax Nexus, Amazon Edition

Amazon’s acquisition of Whole Foods this summer was a useful example of how changing consumer preferences can introduce new complexities for tax teams. While it isn’t entirely obvious what Amazon will become over the long term, it’s somewhat clear why Whole Foods was an attractive acquisition target for the storied retailer now. There are, in … Read More

Mexico Announces Release of Online Platform and Forms for Filing Transfer Pricing Documentation

Mexico Announces Release of Online Platform and Forms for Filing Transfer Pricing Documentation

On October 31, 2017, the Mexican tax authority (Servico de Administracion Tributaria or SAT) announced that its online platform and electronic forms will be ready starting on November 1, 2017, for taxpayers to file their new transfer pricing documentation (i.e., country-by-country (CbC) report, master file, and local file). Editor’s Note: This means that there … Read More