Tax & Accounting Blog

Jose Bustos of EY answered the following questions for BEPS Global Currents on August 21, 2017 regarding the OECD BEPS Multilateral Instrument (MLI): Q: The U.S. has decided not to sign the BEPS MLI for now. What impact may that have, if any, on U.S. tax treaties overall? A: First, it is important to … Read More

Reconciling bank accounts is a complex process, but in Accounting CS®, the Actions > Reconcile Bank Accounts screen and the Actions > Reconcile Impound Bank Accounts screen enable you to easily reconcile your bank accounts. You can download transaction data from your financial institution and then match and clear those transactions against transactions … Read More

Customs audits can be a stressful and an expensive process for the import and export operations. Oftentimes, companies are caught by surprise and are unprepared to respond to the many documentation demands from auditors, especially when it involves going back several years on transactions.  This article will explore ways to help you better prepare for … Read More

The OECD has released comments, dated as of August 11, 2017, to the July 11, 2017 public release of the draft contents of the 2017 update to the OECD Model Tax Convention (MTC). The OECD received comments from a variety of international associations … Read More

On August 11, 2017, the U.S. Internal Revenue Service (IRS) issued Bulletin 2017-2 on its acceptance of Form 8975, Country-by-Country Report. Ultimate parent entities (UPEs) of U.S. multinational enterprise (MNE) groups with $850 million or more of revenues in a previous annual reporting period can now file Read More

Saumyanil Deb and I noted that the UK Diverted Profits Tax should allow taxpayers a chance to defend its intercompany pricing based on a reasonable model of the intercompany transaction in question. In an earlier paper, I posed a simple model of the appropriate gross margin for a sales affiliate, which we applied to the … Read More