Tax & Accounting Blog

Bangladesh: Trophies for Top Taxpayers

Bangladesh: Trophies for Top Taxpayers

Blog, Indirect Tax July 13, 2012

To kick off its second annual VAT Week (July 10-16th) the government of Bangladesh recognized the top 134 VAT paying companies at a ceremony on July 10th. Finance Minister AMA Muhith personally handed the awards to nine national-level recipients along with 27 from the greater Dhaka region, at a ceremony at Bangabandhu International Conference Centre. … Read More

NRA Withholding and Reporting on Payments to Foreign Nationals – Part 8: Does the Recipient Have to Provide a SSN or ITIN to Be Paid?

NRA Withholding and Reporting on Payments to Foreign Nationals – Part 8: Does the Recipient Have to Provide a SSN or ITIN to Be Paid?

No, there is no federal law or regulation that requires that an income recipient provide you with a Social Security Number (SSN) or Individual Taxpayer Identification Number (ITIN) in order to be paid. In fact, you must make the payment if you have an agreement with the recipient obligating your organization to pay the amount. … Read More

onesource

Survey Says Internal Auditors Need More Support from Management

Internal auditors feel they need more visible and vocal support from senior management within their organizations as the changing demands of today’s regulatory and risk environment put  them under increasing pressure to do more with less, according to a new Thomson Reuters survey. In the survey, over 57% of respondents indicated that increased focus on … Read More

Thomson Reuters Releases Latest Version of ONESOURCE Indirect Tax Global Software Suite

Thomson Reuters Releases Latest Version of ONESOURCE Indirect Tax Global Software Suite

New York, July 12, 2012 – Thomson Reuters today announced the latest release of the ONESOURCE Indirect Tax global software suite.  Designed to help global companies deal with thousands of indirect tax and value added tax changes a year, the latest release leverages a company’s existing systems, while increasing the speed and accuracy of the … Read More

Estates of Some 2011 Decedents Get More Time to Make Portability Election

Estates of Some 2011 Decedents Get More Time to Make Portability Election

The IRS has issued guidance giving certain estates of married individuals who died during the first six months of 2011 an extension of the deadline to make the portability election to pass the decedent’s unused estate and gift tax exclusion amount to the surviving spouse. Estates qualifying for and taking advantage of the extension will have … Read More

New Excise Tax on Medical Devices a Sales Tax?

New Excise Tax on Medical Devices a Sales Tax?

Blog, Indirect Tax July 11, 2012

The Supreme Court’s recent ruling upholding President Obama’s health care plan as Constitutional under Congress’s Constitutional authority to levy taxes has given rise to a need for additional taxes to support that “tax”. Of those additional taxes the one that has received the most press so far, largely in part to the outcry from Jersey … Read More