Perspective

Best Practices for Adapting to Changing Tax Regimes

Jurisdictions around the world are increasingly using indirect tax legislation to drive tax revenue. For tax professionals in multinational organizations, it’s a dizzying task staying abreast of these changes and their implications for business. However, to effectively manage and minimize your company’s audit risk, it’s crucial to understand and adapt… Read more »

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Throwbacks (and I Don’t Mean Old Tax Lawyers) Are Awful

It’s no revelation that I think state corporate income taxes are ineffective and inefficient ways to raise revenue. For a wide variety of reasons, taxes on corporate profits don’t work all that well. Many defend corporate levies in the belief that corporations use services and should pay. But this benefits… Read more »

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European Union State Aid Investigations

Since June 2013, the European Commission (Commission) has been investigating the tax ruling practices of European Union member states, and in December 2014 it extended this information inquiry to all member states. During these investigations, the Commission analyzed whether tax rulings granted selective advantages to specific companies. Article 107(1) of… Read more »

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Data Analytics for Tax: A Primer

Big data is one of the most important advances the business and consumer sectors have seen since the dawn of the internet. But what does big data mean for tax? What doors can it open? Although some skepticism is healthy every time marketers and media outlets trumpet a new, seemingly… Read more »

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The Intersection of Customs and Tax Disciplines: Which Tail, Which Dog?

In determining “which tail, which dog” controls the intersection of the customs and tax disciplines, we must first define what we mean by “tax.” If we refer to tax in the broadest sense, to include all forms of tax levies, both direct and indirect, then there is no intersection at… Read more »

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How Tax Platforms Can Drive Corporate Data Analytics

Data analytics, over time, has had an unquestionable impact on how we do business, affecting consumers and the corporations that serve them. The impact on corporations has been both externally and internally focused, and now it’s time for tax departments to get in on the revolution. Data analytics is opening… Read more »

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‘Economic Presence’ Enough for Sales Tax? Relying on Quill May Be Hazardous

An out-of-state company can’t be required to collect sales tax in a state unless the state has a strong enough connection to it. Determining whether this connection, or nexus, exists is increasingly complicated. More than twenty years ago, though, the U.S. Supreme Court provided some certainty for companies. The Court… Read more »

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Corporate Tax Professionals’ Greatest Challenges Require Forward-Looking Technology

Corporate tax departments are facing an unprecedented barrage of new and changing reporting demands as a result of global regulatory shifts. To get a better understanding of the issues that corporate tax departments face, Thomson Reuters recently surveyed more than 3,500 tax professionals about their corporate tax challenges and technology.… Read more »

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HMRC Issues New Guidance on UK’s Diverted Profits Tax

On November 30, HM Revenue & Customs (HMRC) issued new interpretive guidance on the UK’s diverted profits tax (DPT) found in Part Three of the Finance Act 2015, which is intended to apply to large multinational enterprises (MNEs) with business activities in the UK that enter into “contrived arrangements” to… Read more »

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Despite BEPS, Speed Remains Top Global Tax Challenge

The OECD’s Base Erosion and Profit Shifting (BEPS) initiative is progressing toward a crucial phase during which U.S. policymakers will balance its priorities with their own agendas. This initiative will doubtlessly create new concerns as well as new opportunities for multinational companies whose businesses transcend borders. But necessary preparation for… Read more »

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