This month, the OECD proposed rules to ensure multinational companies pay tax in countries where they have significant consumer activities and generate profits. The rules could effect a radical shift in how businesses are taxed.
On September 5, the IRS published proposed regulations related to Sections 451(b) and 451(c) of the Internal Revenue Code, providing long-awaited guidance for taxpayers that use an accrual accounting method and have an applicable financial statement and/or receive advance payments.
Leaders from the G7 countries concluded their annual three-day summit yesterday. A storyline involving France, the U.S., digital taxation and wine tariffs illuminates some of the most important economic issues of our time.