US: Donald Trump signs executive orders to crack down on dumping duty non-payment
President Donald Trump signed two executive orders on 31 March 2017 in relation to enforcement of anti-dumping laws. The White House intends to combat global trade abuses and protect U.S. workers. In his first executive order the focus is on tougher
See MoreUS: IRS encourages taxpayer for e-filing and careful review
The Internal Revenue Service has released some helpful tips on 03 April, 2017 to avoid some common tax-filing errors. To avoid many common errors, IRS encourages the taxpayer to file return electronically which is the most accurate way to file the
See MoreUnited States: ADD/CVD Roundup for March 2017
Following table shows the Federal Register notices related to ADD/CVD cases for March 2017 in United States. Country Product Investigations Case Number Details Australia Uncoated Paper Antidumping Duty Order, Finding, or Suspended
See MorePGA Highlights: March 2017
In the United States the following events have taken place under the several PGA during the month of March 2017. Agencies Summary Federal Register Importing lemons from Northwest Argentina: The Animal and Plant Health Inspection Service
See MoreUS: IRS releases annual report on advance pricing and mutual agreement program for 2016
The IRS has issued its annual report on advance pricing agreements (APAs) and the Advance Pricing and Mutual Agreement (APMA) Program (formerly the Advance Pricing Agreement (APA) Program). The report was issued as IRS Announcement 2017-3 dated 27
See MoreUS: White House begins NAFTA renegotiate process
According to White House report, the government of US is preparing to issue the notification to Congress that it will renegotiate the North American Free Trade Agreement (NAFTA). Commerce Secretary Wilbur Ross has reportedly met with key lawmakers
See MoreUS: IRS announces overpayment and underpayment interest rates for quarter beginning 1 April 2017
The IRS has announced on 7 March 2017 that the interest rates for the second quarter beginning 1 April 2017, will bet 4 percent for overpayments i.e. tax refunds (3 percent in the case of a corporation), 4 percent for underpayments i.e. tax
See MoreUS: IRS urges taxpayers to protect individual tax data
The Internal Revenue Service on March 9, 2017 reminded taxpayers to be cautious and protect personal, financial and tax information, particularly at tax time. The IRS urges taxpayers to be safe online and reminds them to take steps to help protect
See MoreUS: IRS publication 17 helps with 2016 Taxes
Recently the Internal Revenue Service has released “publication 17” which is helpful for 2016 taxpayers. Taxpayers can get the most out of various tax benefits and get useful tips on preparing their 2016 federal income tax returns by consulting
See MoreUS: Tax refunds totaling $1 Billion for 2013 non-filers
The Internal Revenue Service announced on March 1, 2017 that unclaimed federal income tax refunds totaling more than $1 billion may be waiting for an estimated 1 million taxpayers who did not file a 2013 federal income tax return. In cases where a
See MoreUS: IRS issues revised guide on foreign tax credits (FTCs) for individual
The US Internal Revenue Service (IRS) has released a revised version of its tax guide on foreign tax credits (FTCs) for use by individuals when preparing their 2016 tax returns. The guide provides information on how to choose to take the FTC or the
See MoreUnited States: ADD/CVD Roundup for February 2017
Following table shows the Federal Register notices related to ADD/CVD cases for February 2017 in United States. Country Product Investigations Case Number Details Brazil Frozen Warmwater Shrimp Antidumping Duty Order, Finding, or Suspended
See MoreUS: IRS reminds international taxpayers of filing obligations
The Internal Revenue Service on 23 February 2017 reminded non-U.S. citizens who may have taxable income, such as international students and scholars who may be working or receiving scholarship funds, that they may have special requirements to file a
See MorePGA Highlights: February 2017
In the United States the following events have taken place under the several PGA during the month of February 2017. Agencies Summary Federal Register Importer of controlled substances application: The registered bulk manufacturers of the
See MoreUS: IRS publishes draft instructions for Form 8975, Country-by-Country Report
The Inland Revenue Service has published, on 23 February 2017, draft version of instructions for forms that multinational enterprise (MNE) groups are to use in filing information on a country-by-country basis. Form 8975 and Schedules A (Form 8975)
See MoreJapan: Tax treatment of income from U.S. limited partnerships is treated as fiscally transparent entity
On 9 February 2017, Japan’s National Tax Agency (NTA) released a report on its website confirming that a US limited partnership (US LP) is treated as fiscally transparent for Japanese tax purposes when applying the US-Japan Income Tax Treaty. The
See MoreSaudi Arabia-Intergovernmental agreement to implement FATCA approved
The cabinet of Saudi Arabia officially approved the Intergovernmental Agreement (IGA) between Saudi Arabia (KSA) and the United States (US) on 6 February 2017. The agreement would improve international tax compliance and implement the Foreign
See MoreUS: IRS releases its ‘dirty dozen’ list of tax scams for 2017
The Internal Revenue Service yesterday warned taxpayers to be alert to unscrupulous tax return preparers touting inflated tax refunds. This scam remains on the annual list of tax scams known as the “Dirty Dozen” for 2017. The “Dirty
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