Tax & Accounting Blog

Trade Between Brazil and Canada – Past, Present and Future (Pt 2)

Trade Between Brazil and Canada – Past, Present and Future (Pt 2)

Trade Relations Between Brazil and Canada Brazil and Canada are extremely important to each other from a bilateral, regional and multilateral view. Diplomatically, both countries share values, mutual and democratic interests, as well as many similarities, such as support for inclusive growth to promote human rights and democracy, innovation in science and technology, and especially … Read More

You’re Ready for Free Shipping Day…What About Those Other 364 Days?

You’re Ready for Free Shipping Day…What About Those Other 364 Days?

In our previous blogs we shared insights about determining your tax research, the taxability of your products, and the taxability of your customers. Next up is determining the taxability of shipping and freight charges. When shipping is free you don’t need to worry about whether to charge your customer sales tax on it or … Read More

Brazil Publishes Consultation on Implementation of Country-by-Country Reporting

Brazil Publishes Consultation on Implementation of Country-by-Country Reporting

On November 7, 2016, Brazil’s Ministry of Finance and the Brazilian IRS published Public Consultation RFB No.11/2016 to implement annual country-by-country (CbC) reporting in Brazil. See BEPS Action 13. The consultation runs from November 7 to November 21, 2016. The consultation says that if Brazil does not implement CbC reporting, then … Read More

Singapore: Transfer Pricing Administration – Form for Related Party Transactions

Singapore: Transfer Pricing Administration – Form for Related Party Transactions

On November 3, 2016, the Inland Revenue Authority of Singapore (IRAS) said that, from Year of Assessment (YA) 2018, taxpayers must report certain details of related party transactions (RPT), if the value of RPT in the audited accounts for the financial year exceeds S$15,000,000. The Form for Reporting Related Party Transactions should be … Read More

Final Regulations Issued on U.S. Property Held by CFCs in Partnership Transactions

Final Regulations Issued on U.S. Property Held by CFCs in Partnership Transactions

Treasury and IRS issued final regulations (Final Regulations) on partnership transactions where U.S. property is held by a controlled foreign corporation (CFC). See BEPS Action 3 and Internal Revenue Code (IRC) section 956. The Final Regulations were filed on November 2, 2016 and are scheduled to be published in … Read More