Tax & Accounting Blog

IRS E-File Application Summary Required Prior to E-Filing with UltraTax CS and GoSystem Tax RS

IRS E-File Application Summary Required Prior to E-Filing with UltraTax CS and GoSystem Tax RS

If you haven’t already done so, you’ll need to provide a copy of your IRS e-file application summary before you can electronically file returns via UltraTax CS and GoSystem Tax RS. For UltraTax CS If you attempt to e-file returns in UltraTax CS without verifying your e-file application summary, you’ll receive the following message: “Your … Read More

Luxembourg Issues Draft Law on Country-by-Country Reporting

Luxembourg Issues Draft Law on Country-by-Country Reporting

On August 2, 2016, Luxembourg’s Parliament issued a draft law that would implement EU Directive 2016/881 regarding the automatic and mandatory exchange of tax information and country-by-country (CbC) reporting for multinational companies. See BEPS Action 13. The ultimate parent entity of a group of multinational companies that are Luxembourg … Read More

Does Ritz-Carlton Deserve the Fine for Uplifting Price after China VAT Reform?

Does Ritz-Carlton Deserve the Fine for Uplifting Price after China VAT Reform?

In late July, Ritz-Carlton and Crown Plaza hotels in Beijing, together with other four companies in the real estate and hospitality (hotel, catering) sectors, were fined by China for using VAT reform to justify price uplift. Based on complaints received by price watchers, the National Development and Reform Commission (NDRC) led an investigation … Read More

Assam Ratifies GST Amendment

Assam Ratifies GST Amendment

The GST Amendment has been ratified first in the north-eastern Indian state of Assam. The BJP which is the majority at the national level, also is in the majority in Assam Legislative Assembly. The BJP controls the state assemblies in the following states: Gujarat Madhya Pradesh Chhattisgarh Rajasthan Goa Haryana Maharashtra Jharkhand So it … Read More