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
EU Finance Ministers Approve Anti-abuse Clause in Parent-Subsidiary Directive
Posted by celliott on Jan 7, 2015 11:30:12 AM
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
China Vows to Toughen Stance on Tax Avoidance by Foreign Companies
Posted by celliott on Jan 7, 2015 11:24:51 AM
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
January 2, 2015: Georgia's Purchasing Managers Index (PMI) - a reading of economic activity in the state's manufacturing sector - decreased 7.1 points during December 2014. The PMI report is underwritten by the Manufacturing and Distribution Group of Smith & Howard, a top Atlanta CPA firm with a focus on serving manufacturing businesses, and is produced monthly by the Econometric Center at Kennesaw State University.
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Topics: distribution, manufacturing, PMI, Uncategorized
Construction Sales Tax Liabilities: Purchasing Items for Use in the Contract
Posted by celliott on Dec 25, 2014 2:20:22 PM
Contractors are at risk in three general areas: managing the contract, invoicing customers, and purchasing items for use in the contract.
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Topics: Construction, construction sales tax liabilities, sales tax, Uncategorized
Construction Sales Tax Liabilities: Invoicing Customers
Posted by celliott on Dec 25, 2014 2:09:13 PM
Contractors are at risk in three general areas: managing the contract, invoicing customers, and purchasing items for use in the contract.
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Topics: Construction, construction sales tax liabilities, sales tax, Uncategorized
This article has been updated to reflect that President Obama signed the bill December 19, 2014.
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Topics: H.R. 5771, Tax, Tax Alert, Tax Extenders, Uncategorized
Charity Navigator evaluates major philanthropic markets (and we put our two cents worth into the evaluation!)
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Topics: Nonprofit, Uncategorized
In recent years, nonprofits have been the target of increased scrutiny over governance, accountability and compliance. Despite this, many organizations dismiss the importance of their internal audit function.
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Topics: Nonprofit, Uncategorized