Tax & Accounting Blog

Reflecting on BEPS Regulations and Country-by-Country Reporting at TP Minds Americas

Reflecting on BEPS Regulations and Country-by-Country Reporting at TP Minds Americas

I have recently returned from the TP Minds Americas Transfer Pricing Summit in beautiful Miami, Florida where I had the privilege of presenting a session on entitled: “New BEPS Regulations and Country-by-Country Reporting: Practical Steps To Compliance.” I was fortunate to be joined by Sharon Rosiak, International Tax Manager and BEPS Action Plans Implementation … Read More

What Every Importer Should Expect: Equal Treatment by CBP with Regard to Tariff Classifications

What Every Importer Should Expect: Equal Treatment by CBP with Regard to Tariff Classifications

A recent notice in the Federal Register published by Customs and Border Protection (CBP) brings to the public’s attention what is basically a complaint by an importer that they have not been treated fairly or consistently by CBP regarding a tariff classification issue.  It is interesting in that it highlights: A common classification determination … Read More

Consolidation – What is changing now?

Consolidation – What is changing now?

Consolidation refers to the preparation and presentation of consolidated financial statements by an entity. When a parent consolidates a subsidiary, the parent presents its results of operations and financial position as if the parent and its subsidiary were a single entity. Any company controlling another entity is subject to the consolidation guidance in the Codification. … Read More

Oregon Pot Shops Lax on Grass Tax

Oregon Pot Shops Lax on Grass Tax

The state of Oregon has nearly 402 medical marijuana dispensaries, and as of January 1, 2016, those dispensaries that also sell recreational marijuana have been required to collect a 25% excise tax on the retail sale of that non-medical marijuana. In a temporary Administrative Rule adopted January 4, 2016, the Oregon Department of Revenue described the … Read More

What You Need To Know About BEPS: The Evolving List of Countries that Require a CbC Report for Fiscal Year 2016

What You Need To Know About BEPS: The Evolving List of Countries that Require a CbC Report for Fiscal Year 2016

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