Tax & Accounting Blog

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

Every year, the automotive industry has been growing consistently around the world demonstrating that it is a strong and influential sector to the worldwide economies. Certainly if a country is experiencing some sort of economic crisis, this crisis could lead to the fall in vehicle sales. Alternatively, countries will see an increase in automotive sales … Read More

With slightly over three and a half weeks until Value Added Tax (VAT) was scheduled to take place, the Puerto Rico Department of Revenue has announced that the reports of the death of sales and use tax have been greatly exaggerated. Ley 72-2015 authorized a 10.5% Commonwealth Value Added Tax to begin April 1, … Read More

The EPA estimates that one scrap or waste tire is generated per person per year in the United States.  Tires are very tricky to dispose of and to recycle. Stockpiling waste tires can not only pollute the environment, it can also cause safety and health problems.  However, recycling tires can be cost prohibitive.  As a result, most … Read More

After years of much talk and very little action, the UAE will become the first member of the Gulf Cooperation Council (GCC) to levy Value Added Tax. This will take effect in January of 2018 and is a move that will be followed by the rest of the countries in the GCC by the … Read More

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