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.
The World Bank projects global growth to improve to 2.7 percent in 2017, up from a decade-low 2.4 in 2016. Growth rates should further improve over the next two years. We summarize the important points of the World Bank's recent Global Economics Prospects report and take a look at its forecasts for five critical global economies.
There are real benefits to regularly reviewing an organization’s structure to uncover possible efficiencies, some of which might be brought on by dissolving certain legal entities. This post lists some important questions to ask when deciding whether to wind down an entity abroad.
In April, UK Prime Minister Theresa May called for a snap general election. Last week, her gamble failed to pay off as her Conservative Party lost their majority of Parliamentary seats. Here's how the election results could affect Brexit.
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.
On a recent trip to Vietnam, US Trade Representative Robert Lighthizer announced that the US won't change its decision to pull out of the Trans-Pacific Partnership. Meanwhile, the remaining 11 TPP nations met to discuss the fate of the trade agreement.
President Trump’s new tax proposal calls for a reduction of the corporate tax rate from 35 to 15 percent, a repeal of the corporate alternate minimum tax and an end to most tax deductions. This post tells you why reaction to the plan has been mixed, if it's feasible and if it's likely to pass into law.
India’s top court ruled that UK-based Formula One’s three-day race in India constitutes a permanent establishment. The ruling is more evidence that PE laws are changing as countries rethink tax collection in an evolving global economy. This post gives brief summaries of recent rulings and tips for avoiding trouble in the new climate.
The European Court of Justice ruled last week that an EU-Singapore free trade agreement must be concluded jointly by the EU and all 28 EU member states. This post explains why experts differ on whether the ruling will meaningfully affect Brexit negotiations.
For the first time since 1958, France has elected a president with ties to neither of the country’s two main political parties. Here’s a brief look at the economic conditions Emmanuel Macron faces and his employment agenda.
This month, UK authorities announced that they've launched an investigation into KPMG’s conduct related to an audit of Roll Royce’s financial statements. The investigation appears to be part of a trend of holding auditing firms accountable for policing their clients’ financial behavior.
Australian Prime Minister Malcolm Turnbull announced that his country’s Temporary Work (Skilled) visa, or 457 visa, used by non-Australian skilled workers, will be replaced by two new visas. Over a million people have used the 457 for work in Australia since it was introduced 20 years ago. Here’s what the changes will mean for businesses operating in or planning to expand into Australia and what they can do to protect themselves.