Perspective

Should Companies Plan Into Subpart F Following the TCJA?

Following the enactment of the U.S. Tax Cuts and Jobs Act (TCJA), U.S. multinational companies (MNCs) now face a new anti-deferral provision in the form of global intangible low-taxed income (GILTI). GILTI is an additional category of income, which is taxed on a current basis to U.S. shareholders of controlled… Read more »

States Adopt Varying Approaches to Federal Tax Reform

It has been an exciting year in the state and local tax world, with tax authorities and legislators racing to interpret and respond to federal tax reform.1 Businesses facing looming filing deadlines spent the first part of the year making sense of their reporting requirements for the 2017 tax year.… Read more »

Digital Economy Forces Global Tax Authorities to Adapt

Tax jurisdictions around the world are feeling the pressure to update their rules to keep pace with the disruptions brought about by the digitization of the economy. Defining where value is created has become much more complex than when most countries’ corporate tax rules were written. Traditional corporate tax rules… Read more »

Tax Reform Is in the Books

Another interim reporting period is rounding the corner, which means it is time to update the feature story in many of today’s Notes to the Financial Statements—the income tax footnote and the effects of the Tax Cuts and Jobs Act (TCJA). Believe it or not, the Financial Accounting Standards Board’s… Read more »

How CFOs Can Mitigate the Risk of Ransomware

Over the past year, a surging cybersecurity threat has infiltrated the computers of individuals and organizations around the world. Known as ransomware, this type of cyberattack holds sensitive data hostage and then forces victims to pay up to get it back or to stop it from being released or destroyed.… Read more »

BEPS and Allocation of Taxing Rights

The allocation of taxing rights between jurisdictions is a major international tax issue. The current analysis of this issue has largely been set in motion by the OECD/G20 base erosion and profit shifting (BEPS) project and by programs that other international organizations have initiated. It’s important to consider whether jurisdictions… Read more »

Audit on the Rise: Accessing Data Across Jurisdictions Essential Post-BEPS

The Action Plan on Base Erosion and Profit-Shifting (BEPS) set by the Organisation for Economic Co-operation and Development (OECD) is creating a high-stakes audit environment for multinational enterprises. With jurisdictions around the world enacting legislation to boost transparency and end corporate tax avoidance, a lack of data accessibility across jurisdictions… Read more »

States Embrace Broader Rules for Taxing E-Commerce Income

The state corporate income tax implications of e-commerce are largely uncertain for multistate corporations making sales without a physical footprint. “Pure” e-commerce transactions constitute an ever-growing segment of the economy and include, for example, sales of cloud computing services; access to streaming content; music, video, and software downloads; online educational… Read more »

How Tax Nexus Is Primed to Change

Retailers face internal and external challenges when it comes to properly managing indirect tax compliance (e.g., sales, use, and VAT-like taxes), and the many degrees of complexity are ever changing. Internally, there are frequently too many cooks in the kitchen, and not by choice. Many people are involved in tax… Read more »

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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