Tax & Accounting Blog

Texas Adds Three Combined Tax Areas Effective January 1st 2016

Texas Adds Three Combined Tax Areas Effective January 1st 2016

Effective January 1st, the following three combined tax areas are recognized by the state of Texas: Forney/Kaufman County Development District Killeen/Salado Public Library District Niederwald/Caldwell Hays Emergency Services District No. 1-A This brings the total number of combined tax areas in the state of Texas up to 40. Combined tax areas are “unique areas where … Read More

South Africa on Track to Implement Country-by-Country Reporting

South Africa on Track to Implement Country-by-Country Reporting

On December 23, 2014, South Africa’s Davis Tax Committee (“DTC”) released a First Interim Report on BEPS (the Report) for public comment. The DTC was formed by the Minister of Finance on July 17, 2013 to “evaluate the South African tax system against the international tax trends, principles and practices, as well as recent … Read More

Should Indonesia Join the Trans-Pacific Partnership Agreement?

Should Indonesia Join the Trans-Pacific Partnership Agreement?

During a meeting with the U.S. President Barrack Obama at the White House last October, the President Republic of Indonesia Joko Widodo – known domestically as Jokowi – stated that Indonesia intends to join the Trans-Pacific Partnership (TPP) Agreement.  “Indonesia is an open economy and with a population of 250 million, we are the largest … Read More

Finland Requests Comments on Transfer Pricing Documentation Rules and Country-by-Country Reporting

Finland Requests Comments on Transfer Pricing Documentation Rules and Country-by-Country Reporting

On December 21, 2015, the Finnish Ministry of Finance released for public comment a draft bill (the ‘proposal’) to revise the transfer pricing documentation rules and introduce country-by-country (CbC) reporting. The proposal includes CbC, master file and local file requirements, and penalty provisions. The contents of the proposal follow the OECD … Read More

The Netherlands Issues Regulations on CbC Reporting Requirements

The Netherlands Issues Regulations on CbC Reporting Requirements

On December 30, 2015, the Dutch Ministry of Finance issued Regulation No. DB/2015/462M (the Regulations), which sets out the information required under the country’s recently adopted transfer pricing documentation requirements. The requirements are in line with the guidelines developed as part of the Action 13 final OECD BEPS report. The budget legislation approved … Read More