United States: ADD/CVD Roundup for November 2017
Following table shows the Federal Register notices related to ADD/CVD cases for November 2017 in United States. Country Product Investigations Case Number Details Belarus Certain Carbon and Alloy Steel Wire Rod Affirmative Final Determinations
See MoreUS: Senate finance committee proposes to tax cut for US beverage industry
The Senate Finance Committee included provisions to reduce the tax burden on US brewers and distilleries for two years, and to allow wine producers a permanent tax cut. The proposal lowers the tax on beer to $ 16 a barrel on the first six million
See MoreU.S. and Italy sign an agreement on the exchange of CbC reports
According to an IRS announcement on its website, the competent authorities of the U.S. and Italy have concluded an arrangement on the exchange of Country-by-Country Reports. The competent authority arrangement (CAA) for exchange of
See MoreUS: IRS issues a correction on tax regulations
The US Tax Administration (IRS) issued a correction to tax ordinances (TD 9803) on November 15 regarding the transfer of ownership of foreign corporations. These rules, which were published on 16 December 2016, retrospectively removed the exemption
See MoreUS: Senate Finance Committee approves tax reform bill
On November 16, 2017, the US Senate Finance Committee completed its tax reform and approved the bill. The bill, approved by the Finance Committee ("the SFC Bill"), contains a number of changes to the original proposed reform ("Chairman's Mark") as
See MoreUS: IRS releases practice units on APAs for tangible goods transactions
On November 6, 2017, the Internal Revenue Service (IRS) released two new international Practice Units (IPUs) in connection with Advance Pricing Agreements (APAs) for inbound and outbound tangible goods transactions. The IPUs provide a summary of the
See MoreUS: Tax reform bill published
The long awaited US tax reform bill was released by House Republicans on 3 November 2017. The impact on the deficit is estimated at $1.5tn over 10 years. The corporate tax rate would be reduced from the current 35% down to just 20% starting in 2018.
See MorePGA Highlights: October 2017
In the United States the following events have taken place under the several PGA during the month of October 2017. Agencies Summary Federal Register Removing the prohibition on the importation of jadeite or rubies mined or extracted from
See MoreUnited States: ADD/CVD Roundup for October 2017
Following table shows the Federal Register notices related to ADD/CVD cases for October 2017 in United States. Country Product Investigations Case Number Details Argentina Biodiesel Preliminary Affirmative Determination of Sales at Less Than
See MoreUS: IRS reminds tax preparers to renew PTIN
The Internal Revenue Service, on 26 October 2017, reminded the nation’s more than 727,000 federal tax return preparers that they must renew their Preparer Tax Identification Numbers (PTINs) for 2018. All current PTINs will expire Dec. 31,
See MoreUS: Senate approves multi-trillion -dollar budget
On October 19, 2017, the Senate approved a $ 1 trillion budget that Donald Trump has described as "the first step toward massive tax cuts" - a largely symbolic move that enables Republicans to pass the US tax code without a single Democratic
See MoreUS: IRS invites public to comments on treatment of compensatory stock options
The Internal Revenue Service (IRS), as part of its continuing effort to reduce paperwork and respondent burden, invites the general public and other Federal agencies to comments on the existing final regulations (TD 9088) dealing with the treatment
See MoreUS: IRS appeals its tax court loss in the amazon transfer pricing case
On 29 September 2017, the Internal Revenue Service filed an appeal against March Tax Court ruling concerning Amazon’s cost-sharing agreement buy-in payment. The case is important because it is expected to provide fundamental guidance on the
See MoreU.S. signs agreements on the exchange of CbC reports with five countries
According to an IRS announcement on its website, it has signed separate agreements with the Czech Republic, Finland, Greece, Italy, and Sweden to exchange country-by-country reports on multinationals. Country-by-Country reporting data will be
See MoreUS: IRS issues guidance for tax credit for expanding research activities
The Internal Revenue Service has issued guidance to Large Business & International (LB&I) Division examiners regarding the examination of the credit for increasing research activities under IRC Section 41 (“Research Credit”) claimed by
See MoreUnited States: IRS issues draft advance pricing agreement (APA) template for public comment
The US Internal Revenue Service (IRS) has recently published on its web page that the IRS’s Advance Pricing and Mutual Agreement Program (APMA) is soliciting comments on a proposed revision to the template for advance pricing agreements (APAs).
See MoreUnited States: ADD/CVD Roundup for September 2017
Following table shows the Federal Register notices related to ADD/CVD cases for September 2017 in United States. Country Product Investigations Case Number Details Argentina Biodiesel Scheduling of the Final Phase of Antidumping Duty
See MorePGA Highlights: September 2017
In the United States the following events have taken place under the several PGA during the month of September 2017. Agencies Summary Federal Register Delay of transition of test program: This notice announces that from December 9, 2017, ACE
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