Exactly 20 years after they started, representatives from the European Union and Mercosur concluded negotiations on one of the biggest trade deals in history. The EU is the South American bloc’s first major trade partner, and the new agreement is the largest ever for both sides.
The EU is undertaking one of the most substantial reforms of its VAT system since the single market was created in 1993. Here’s a summary of what multinationals should know about the changes.
Trade-agreement negotiations between the EU and the four South American countries that comprise Mercosur have dragged on for 17 years, but they’ve taken on a new urgency due to US protectionist policies. The two sides aim to finalize an agreement by the end of the year.
China’s new cybersecurity law went into effect last month and many companies are concerned about whether or not they must comply. This post gives a summary of the law for foreign organizations operating in China.
The Inland Revenue Authority of Singapore has clarified its transfer pricing guidelines related to service companies. This post provides a summary of the clarifications and gives a brief description of cost-plus mark-up taxation.
Tax authorities around the world continue to change VAT rules to capture revenues from the e-commerce sector. The new rules are designed to level the playing field between international and domestic operators while (authorities hope) unlocking a gold mine of tax revenue.
There are a number of international tax issues that affect providers and purchasers of cloud computing software, including characterizing software payments. Characterization affects how software receipts are taxed and whether withholding tax should be applied. In short, software-payment classification can have a big impact on the overall profitability of a sale and the cash flows associated with it.
Last week the first-ever international transaction between banks using multiple blockchain applications took place. Wells Fargo, Goldman Sachs and other prominent firms are developing blockchain technologies, but blockchain’s reach is not limited to financial transactions. This post collects some of the ways various companies across industries are using this fast-evolving technology that some experts believe may be as revolutionary as the internet.
The Brexit referendum will likely have significant implications for the UK's value-added tax system. Here are some important considerations to help you make informed VAT-related decisions as Brexit negotiations unfold.
Yesterday UK voters decided to leave the European Union. The decision will have serious implications for multinationals operating in the UK. It’s important to keep in mind, however, that any changes resulting from yesterday’s referendum are months away. Now is the time to take a measured approach to how your business will likely operate in a UK that is not part of the EU, basing your strategy on the probable consequences of yesterday’s vote.
The Australian Government issued its 2016 Federal Budget yesterday, and there are significant implications for multinationals operating there. This post is a summary of important points covered in the announcement, with an emphasis on foreign businesses.