Finland: Tax authority released guidance on FATCA agreement with US
The Finish tax administration published a guidance named A57/200/2015 on 15 April, 2015 regarding the application of the Finland– United States FATCA Model 1A Agreement (2014), which entered into force on 20 February 2015. According to guidance
See MoreUS: The Department of Treasury announces plans to implement country-by-country (CbC) reporting
The US Treasury Department has announced plans to implement a country-by-country (CbC) reporting requirement starting for fiscal years beginning in 2016 as set out in the guidance issued by the Organization for Economic Cooperation and Development
See MoreUnited States: ADD/CVD Roundup for March 2015
Following table shows the Federal Register notices related to ADD/CVD cases for March 2015 in United States. Country Product Investigations Case Number Details Australia Silicomanganese Initiation of Less-Than-Fair-Value
See MoreUS: IRS issues notice setting limits on foreign housing expenses for 2014
In the US the Internal Revenue Service (IRS) has issued Notice 2014-29 providing inflation-adjusted limitations on foreign housing expenses for the 2014 tax year. The figures included in the Notice show that Hong Kong, Moscow, and Geneva are judged
See MoreUS: Low Income Taxpayer Clinic Grant Recipients Announced
The Internal Revenue Service awarded approximately $10.25 million in matching grants to Low Income Taxpayer Clinics (LITCs) for the 2015 grant year (Jan. 1, 2015, through Dec. 31, 2015). LITCs are organizations that represent low income taxpayers in
See MoreBelarus and the United States signed a Foreign Account Tax Compliance Act (FATCA) Agreement
Belarus and the United States signed a Foreign Account Tax Compliance Act (FATCA) Agreement on 20 March 2015 More specifically, Belarus and the United States signed a Model 1 Agreement. Under the agreement, Foreign Financial Institutions (FFIs) in
See MoreUS and Croatia signed Foreign Account Tax Compliance Act (FATCA) Agreement
Croatia and the United States signed a Foreign Account Tax Compliance Act (FATCA) Agreement, on 20 March 2015. More specifically, Croatia and the United States signed a Model 1 Agreement. Under the agreement, Foreign Financial Institutions (FFIs) in
See MoreFATCA agreement between US and Singapore entered into force
The United States-Singapore Foreign Account Tax Compliance Act (FATCA) Agreement entered into force on 18 March 2015. This was a Model 1 Agreement signed between these two
See MoreUnited States: ADD/CVD Roundup for February 2015
Following table shows the Federal Register notices related to ADD/CVD cases for February 2015 in United States. Country Product Investigations Case Number Details Australia Certain Uncoated Paper Initiation of Less-Than-Fair-Value
See MoreFinland-US FATCA Agreement Enters Into Force
Agreement between the Government of the United States of America and the Government of the Republic of Finland to Improve International Tax Compliance and to Implement FATCA entered into force on 20 February 2015. The agreement was signed on 05
See MoreSouth Africa-US FATCA Agreement Enters Into Force
The South Africa-United States FATCA Model 1A Agreement (2014) entered into force on 28 October 2014. The agreement was signed on 9 June 2014. Under the agreement, the US Government collects information regarding certain accounts maintained by
See MoreUnited States: ADD/CVD Roundup for January 2015
Following table shows the Federal Register notices related to ADD/CVD cases for January 2015 in United States. Country Product Investigations Case Number Links Australia Electrolytic Manganese Dioxide Revocation of the Antidumping Duty Order
See MoreUS: Budget Proposals for 2016 Bring Changes to the US Internal Revenue Code (IRC)
US fiscal Budget proposals for 2016 have brought some changes to the Internal Revenue Code (IRC) with respect to tax administration and compliance. The key proposals include: Restricted deductions of excessive interest expenses by members of
See MoreUS: Legislation to protect taxpayers from inappropriate use of Civil Forfeiture Laws
US congress has passed a bill to protect taxpayers from the inappropriate use of civil forfeiture laws. The bill would allow an affected person to request a court to hold a "probable cause" hearing within fourteen days of receiving a notice of a
See MoreUS: Budget for 2016 Proposes Minimum Tax on Foreign Income and One-Time Tax on Profits Stockpiled Offshore
The US Government has proposed minimum tax on foreign income and one-time tax on profits stockpiled offshore in its 2016 fiscal budget. The minimum tax on foreign earnings is intended to reduce current incentives to trace production overseas and
See MoreUS: IRS Volunteers Offer Free Income Tax Assistance Nationwide
More than 12,000 free tax preparation sites will be open nationwide this year as the Internal Revenue Service continues to expand its partnerships with nonprofit and community organizations. The sites provide vital tax preparation services for low-
See MoreCzech Republic-US: FAQs on application of FATCA agreement published
The General Tax Directorate of Czech Republic has released frequently asked questions (FAQs) about the implementation and application of the US Foreign Account Tax Compliance Act (FATCA) agreement between the Czech Republic and the United States on
See MoreUS: IRS Opens 2015 Tax Filing Season
The Internal Revenue Service (IRS) has announced the opening of the 2015 tax filing season and has highlighted a growing array of online services, including features that help taxpayers understand how the Affordable Care Act (ACA) will affect them
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