Tax Provisions in Business Acquisition Agreements
The following fact pattern should is representative of a tax evasion and structuring case. A taxpayer receives checks in the ordinary course of business from customers. Some of those checks are deposited into the business...more
WHAT ROLE WILL THE GOVERNMENT OF MALAYSIA PLAY IN APPROVING AND REGULATING FOREIGN DIRECT INVESTMENT?
Regulation of foreign investment in Malaysia is done both through legislation as well as governmental policies....more
For businesses, managing tax liabilities is an important ongoing task and businesses often go to great lengths to situate themselves so as to minimize their tax obligations. One of the challenges in tax planning, though, is...more
The first Special Session of 2015 ended on Tuesday, August 11, without accomplishing the primary objective of passing a General Fund budget for the 2015-2016 fiscal year. The Governor’s “call” for the special session included...more
On August 6, 2015, the Department of the Treasury issued Notice 2015-54 (the Notice) announcing its intent to issue new regulations addressing transactions involving partnerships formed by related parties. According to the...more
Offshore e-commerce service providers should make themselves aware of changes to Japanese law that affect their operations.
Pursuant to a recent amendment of the Consumption Tax Act, a new Registration of Foreign...more
1. WHAT ROLE WILL THE GOVERNMENT OF INDONESIA PLAY IN APPROVING AND REGULATING FOREIGN DIRECT INVESTMENT?
The existing Indonesian Investment Act is Law No. 25 of 2007, passed by the Indonesian House of Representatives...more
Cash business operators are often prone to under report income or overstate deductions when filing tax returns. The effect of engaging in such conduct can be criminal charges, including tax evasion, money laundering and...more
The U.S. Treasury Department (“Treasury”) and the Internal Revenue Service (the “IRS”) have issued proposed regulations under Section 707(a)(2)(A) of the Internal Revenue Code of 1986, as amended (the “Code”), covering the...more
1. WHAT ROLE WILL THE GOVERNMENT OF INDIA PLAY IN APPROVING AND REGULATING FOREIGN DIRECT INVESTMENT?
Historically, India has been a regulated economy since its independence. The government of India (GOI) launched a new...more
Hong Kong is always rated as one of the world’s freest economies, one of the reasons being that the government has always adopted the approach of nonintervention.
Hong Kong strives to attract more foreign investors to...more
It is not possible to give a complete outline of the scope of the taxation system in this guide. A brief outline of the basic taxation principles and some of the major forms of taxation are discussed below....more
In This Issue:
- Important Changes at NYS and NYC Tax Agencies
- Court of Appeals Upholds Constitutionality of Taxing Nonresidents on Gain from S Corporation Stock Sale in Two Separate Decisions
- NYC Tribunal...more
The Internal Revenue Code may be the single strongest enforcement weapon in the battle over legal sale and distribution of "medical marijuana". The Opinion of the United States Court of Appeals for the Ninth Circuit, Oliver...more
June 10, 2015 marked the day that the Chinese government released a new draft law for public comment. China’s increased awareness of the long lasting effects of pollution on the country’s land, water, and people is reflected...more
Draft Goods and Services Tax (GST) legislation has been released which seeks to level the playing field by ensuring that digital products and services provided to Australian consumers are subject to GST, whether provided by...more
The state of Tennessee recently enacted the Revenue Modernization Act (the "Act"). According to the state, while the legislation does not introduce any new taxes, it should raise revenue and create an even playing field in...more
The 2015 Legislative Session, 109th General Assembly, considered a large number of tax and related initiatives. Many of these initiatives have been enacted, some with very far reaching impact upon the tax climate in this...more
After much promise, the IRS issued two sets of regulations to address the potential avoidance of gain by corporate partners. First, new § 337(d) temporary regulations, often referred to as the “May Company” regulations,...more
Yesterday, on June 17, 2015, three state tax bills were favorably reported to the United States House of Representatives (House) by the House Judiciary Committee (House Judiciary) after considering each during a half-day...more
Income tax may not be front of mind when starting a crowdfunding campaign, but early consideration of the issues could prevent a panic-inducing call from the Australian Taxation Office. The choice of crowdfunding model...more
Last week, the Nevada legislature passed what the Reno Gazette-Journal has branded as the state’s “largest-ever tax increase”. Although the state’s legislative website does not yet list the bill as having been approved by...more
The South Carolina General Assembly will wrap-up session this Thursday, but will return the week of June 16th for the limited purpose of deliberating gubernatorial vetoes, appointments, local legislation, conference committee...more
Key tax writers in Congress are indicating that once Congress disposes of pending trade legislation, they will turn to their top legislative priority: reaching a consensus on international and business reform by the end of...more
Over the last few years, a number of key jurisdictions have adopted regulations requiring companies engaged in natural resource extraction activities to disclose the payments they make to governments and state-owned...more
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