Until recently, companies selling online to US customers in general did not have to pay sales tax in states where they had no physical presence, but that has changed. Here's what multinationals need to know.
A new US multistate tax amnesty program allows online sellers to seek relief from past-due sales and similar taxes. Sellers based outside and inside the US must act immediately to participate.
Today’s superstar athletes are powerful corporate brands, and they and their teams are looking for creative ways to reduce personal and corporate taxation. UK soccer clubs are compensating players and some coaches under a tax scheme that has some wondering if teams, players and coaches are effectively engaging in tax evasion.
In any tax system, a high level of certainty is required for both ease of tax administration and the efficient collection of tax liabilities. Likewise, for companies and their stakeholders, domestic and international tax-related certainty is a fundamental goal. The UK’s EU referendum and potential exit from the European Union represent serious threats to this desired stability. And the biggest challenge businesses will face from a potential “Brexit” will be negotiating the resulting uncertainty.
In this week's Global Glance we look at China’s workplace culture and its evolving labor movement; why more Americans are renouncing their US citizenship; and global New Year’s traditions.
The European Union's expected rulings that Starbucks and Fiat Chrysler got illegal tax breaks might be just the start of a crackdown, with bigger battles against Apple and Amazon on the way.
If your company sends staff abroad, there are advantages to having a tax equalisation policy. It will offset employee tax burdens associated with overseas assignments while ensuring employer tax compliance in home and host countries. Many of these policies are shaped more by company philosophy than legal requirements. But making the right decisions about what to include in the policy is critical to achieving a balance between attracting and retaining top talent, maximising tax advantages, and streamlining expatriate tax reimbursement processes and payroll administration.
The European Union said it will require Starbucks Corp. and Fiat Chrysler Automobiles to pay tens of millions of euros in back taxes after ruling that tax deals they negotiated with two European governments were illegal, in an unprecedented decision by regulators that risks blowing open thousands of corporate tax structures across Europe.
There are many reasons to consider a carve-out transaction, from obtaining a cash infusion to introducing a new business line. But no matter what your motivation — or the size and age of your company — proper tax planning will allow you to better realize the full value of the business unit in question. Such transactions, which involve international elements and establishments in a number of jurisdictions, are particularly complex.
Many UK employers and employees do not realise that staff sent abroad may have to pay taxes and file personal tax returns in both the UK and the host country.
Effective January 1, 2015, France now permits an optional value-added tax (“VAT”) reverse charge procedure. The announcement follows the successful implementation of the procedure in the Netherlands and Belgium, both of which have enjoyed greater levels of trade.