The Financial Accounting Standards Board (FASB) on October 31 issued Accounting Standards Update 2018-17, intended to reduce the cost and complexity of financial reporting associated with consolidation of variable interest entities (VIEs), for which co…
The Association of International Certified Professional Accountants has issued a policy paper calling for a multilateral approach to solving the tax challenges posed by the digital economy.
Estonia has topped the Tax Foundation’s International Tax Competitiveness Index for the fifth successive year, being deemed to have the “best tax code in the OECD.”
On October 10, 2018, the United States Treasury Department and the Internal Revenue Service published a Notice of Proposed Rulemaking in the Federal Register notifying taxpayers of the availability of additional guidance regarding the transition tax un…
The American Institute of CPAs has urged the Internal Revenue Service and the US Treasury Department to simplify the draft 2019 Form W-4, Employee’s Withholding Allowance Certificate, and the accompanying instructions, to reduce administrative burdens…
The US Internal Revenue Service has announced plans to streamline
the personal income tax return for the 2019 tax filing season, to reflect changes
brought about by the Tax Cuts and Jobs Act.
The International Monetary Fund has recommended that the United States raise indirect taxes to boost revenues, to offset the cost of recent tax cuts and spending increases.
The decision by the US Supreme Court to drop the physical presence requirement for states to impose sales tax will have an “incredible impact” on states’ tax regimes and revenues, according to Mark Friedlich, Senior Director of Tax and Accounting, Nort…
In a landmark decision on June 21, the Supreme Court of the United States overturned existing case law by ruling that a state can collect sales tax on remote sales even when the vendor does not have a physical presence in the state.
In a landmark decision on June 21, the Supreme Court of the United States overturned existing case law by ruling that a state can collect sales tax on remote sales even when the vendor does not have a physical presence in the state.