Tax & Accounting Blog

Florida Governor Wants to Eliminate Sales Tax on Purchases of Equipment

Florida Governor Wants to Eliminate Sales Tax on Purchases of Equipment

In an effort to encourage growth in manufacturing companies, Florida Governor Rick Scott has announced that he plans on working towards completely eliminating taxes on the purchase of equipment used in manufacturing. Prior to January 1, 2013, manufacturers were required to demonstrate that they were meeting a 10% “productive output” requirement in order to receive … Read More

Latvia – Proposed Derogation on The Right to Deduct Input Tax on Passenger Cars

Latvia – Proposed Derogation on The Right to Deduct Input Tax on Passenger Cars

Latvia has requested authorization to derogate from the provisions of Directive 2006/112/EC governing the right to deduct input tax paid on passenger cars. Under the proposal Latvia would be authorized to limit the right to deduct the value added tax (VAT) on expenditures on passenger cars not wholly used for business purposes to 80%. The limitation of … Read More

China and OECD Guidelines– Not So Perfect Together

China and OECD Guidelines– Not So Perfect Together

The China State Administration of Taxation (SAT) recently affirmed in a paper for the United Nations transfer pricing project that they are generally consistent with the OECD guidelines, but that certain modifications may be needed to reflect the particular circumstances existent in China. In particular, the SAT points out three key areas of concern: There … Read More

WEBCAST: ONESOURCE Indirect Tax Certificate Manager: Optimizing Your Exemption Certificate Process

WEBCAST: ONESOURCE Indirect Tax Certificate Manager: Optimizing Your Exemption Certificate Process

Optimizing Your Exemption Certificate Process Managing the exemption certificate process in your company can be time consuming and prone with problems. ONESOURCE Indirect Tax Certificate Manager from Thomson Reuters streamlines your method of managing exemption certificates saving you time and money. Tax Certificate Manager integrated with ONESOURCE Indirect Tax Determination increases the overall accuracy of … Read More