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  • US companies gain benefits under tailored carbon taxes

    International Tax ReviewBy Danish Mehboob

    Multinational companies, including ExxonMobil and Microsoft, are supporting a corporate-friendly US carbon tax with trade-offs where they pay more tax in exchange for tax certainty, including protection from emission disputes.
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    By Mehboob, Danish, posted on Tuesday August 20, 2019
  • IRS Regs To Treat Cloud-Computing Transactions As Services

    Logo - Law 360By Alex M. Parker

    Cloud-computing transactions should be considered services, rather than a lease of property, according to long-awaited regulations proposed Friday by the U.S. Treasury — rules that could significantly affect how the income is classified under international provisions of the federal tax code. The rules generally confirm how companies have already been handling income from services such as digitally streamed content or web hosting, but they leave to a future regulatory package the trickier issues of how taxpayers should determine the exact sourcing. 
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    By Parker, Alex M., posted on Tuesday August 20, 2019
  • GOP senator: Reduce taxes to offset tariffs on Chinese goods

    The HillBy Zack Bukryk

    Sen. Rick Scott (R-Fla.) on Monday called for tax cuts to offset the costs to American consumers of tariffs on Chinese goods during a CNBC appearance. “Anything we raise in tariffs, we should give back to the rank and public in tax reductions,” Scott said Monday on CNBC’s “Squawk Box,” acknowledging the “short-term pain” from the ongoing trade war between the U.S. and China.
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    By Bukryk, Zack, posted on Tuesday August 20, 2019
  • An Economic Analysis of Corporations’ Reserves for Tax Audit Adjustments

    Tax AnalystsBy Thomas Horst

    Thomas Horst continues his assessment of the effect the Tax Cuts and Jobs Act has had on the effective tax rates of large U.S. nonfinancial corporations based on information corporations provide in the financial statements they include with their annual SEC Forms 10-K.

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    By Thomas Horst, posted on Sunday August 18, 2019
  • Norway Proposes Expanded Group Contribution Deduction

    Tax AnalystsBy Ryan Finley

    The Norwegian government has proposed amended intragroup contribution rules to comply with a ruling by the European Free Trade Association Court, which held that the regime’s residence restrictions violate the right to freedom of establishment.

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    By Ryan Finley, posted on Sunday August 18, 2019
  • Singapore Summarizes Responses to Draft Income Tax Consultation

    Tax AnalystsBy Tax Analyst

    The Singapore Ministry of Finance issued a summary of responses to its consultation on proposed income tax changes that would, among other things, increase the deemed expense ratio and clarify the revocation of tax incentive awards.

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    By Tax Analyst, posted on Sunday August 18, 2019
  • Apple, EU Set for September Showdown Over Record Tax Bill

    Bloomberg By Stephanie Bodoni

    Apple Inc.’s 13 billion-euro ($14.4 billion) battle with the European Union reaches the bloc’s courts next month in a hearing set to throw the spotlight on antitrust commissioner Margrethe Vestager’s crackdown on tax deals doled out to big companies.

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    By Stephanie Bodoni, posted on Sunday August 18, 2019
  • U.S. Plotting Strategy to Strike Back at French Digital Services Tax

    Bloomberg By Peter Menyasz

    Canada plans to hike taxes on stock options that top-paid executives receive from large companies. The changes proposed in draft legislation would bring Canada’s tax treatment of stock options more in line with U.S. tax treatment of options and restore the tax break’s focus on helping small companies, like start-ups.

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    By Peter Menyasz, posted on Sunday August 18, 2019
  • U.S. Chamber of Commerce Opposes Tariff Response to French DST

    Tax AnalystsBy Annagabriella Colon

    The U.S. Chamber of Commerce says the French digital services tax is the result of unsound tax policy, but it has recommended dispute proceedings at the WTO rather than tariffs on French imports.

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    By Annagabriella Colon, posted on Friday August 16, 2019
  • Treasury’s Proposal on Digital Content Sales May Cause Problems

    Tax AnalystsBy Kristen A. Parillo

    While Treasury’s proposed rules for characterizing cloud computing transactions contained no big surprises, some practitioners say the draft sourcing rule for sales of digital content could present big problems for some foreign companies.

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    By Kristen A. Parillo, posted on Friday August 16, 2019


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