The "border adjustment" tax proposal that is intended to boost exports over imports has several major U.S. corporations up in arms, which has put members of Congress under intense pressure from key corporate constituencies.
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Topics: Border Tax, Import Tariffs, International Tax, manufacturing, Tax, Uncategorized
There is much being said about the nation’s manufacturing industry and where it is headed under the new administration. Though it is impossible to predict the future of manufacturing with any certainty, what we do know is where the industry currently stands and what is being proposed by President Trump. Join us as we take a look at the manufacturing industry from both a national and local perspective.
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Topics: Corporate Tax, International Tax, manufacturing, Uncategorized
The Bureau of Labor reports close to 17% of the U.S. workforce is comprised of non-U.S. citizens. That said, businesses with foreign employees should understand how to correctly comply with IRS regulations concerning payments to foreign workers.
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Topics: foreign employees, International Tax, Tax, Uncategorized, wages
European Union (EU) antitrust regulators have asked all 28 member countries for information on tax arrangements they made with multinational companies between 2010 and 2013.
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Topics: European Union, International Tax, Tax, Uncategorized
The Internal Revenue Service (IRS) released revised Publication 515, Withholding of Tax on Nonresident Aliens and Foreign Entities (http://www.irs.gov/pub/irs-pdf/p515.pdf). Although the publication is primarily for use in 2015, it also includes information relevant to 2014.
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Topics: FATCA, FIRPTA, International Tax, IRS, Tax, Uncategorized, Withholding Tax
The European Union's (EU's) Taxation and Customs Union Directorate General published a new guide on EU member states' policies on value-added tax (VAT) refunds for visitors. It can be found at http://ec.europa.eu/taxation_customs/common/travellers/leave_eu/vat_refund_index_en.htm.
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Topics: European Union, International Tax, Tax, Uncategorized, VAT
Singapore, Bulgaria, the Turks and Caicos Islands, and Moldova are the latest jurisdictions to sign intergovernmental agreements under the Foreign Account Tax Compliance Act (FATCA), which became law in March 2010. Below is a list of FATCA jurisdictions, along with the dates they signed. Note: There are additional jurisdictions with agreements in substance.
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Topics: FATCA, International Tax, Jurisdictions, Model 1 IGA, Model 2 IGA, Tax, Uncategorized
Financial organizations expect to exceed their original budget for compliance under the Foreign Account Tax Compliance Act (FATCA), according to a survey by Thomson Reuters.
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Topics: Compliance, FATCA, International Tax, Tax, Uncategorized
European Union finance ministers approved changes to the bloc’s Parent-Subsidiary Directive, which introduces a new general antiabuse rule to reduce tax avoidance by corporate groups.
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Topics: European Union, International Tax, Parent-Subsidiary Directive, Tax, Tax Avoidance, Uncategorized
Chinese tax authorities have pledged to step up efforts to crack down on tax avoidance by foreign companies, after the nation levied almost $140 million in back taxes from Microsoft.
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Topics: BEPS, China, International Tax, Tax, Tax Evasion, Uncategorized