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.
Dubai's new employment law is part of a significant expansion plan aimed at attracting and retaining talent in the UAE. The legislation introduces several highly anticipated provisions that benefit both employees and employers.
Australia has enjoyed nearly 28 years of solid economic growth. But recent threats, including trouble in China and global currency devaluation, could turn Australia’s good fortunes around.
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.
As tensions rise over the U.S.-China trade war, manufacturers have begun shifting their operations from China to Southeast Asia. For most companies, however, the strategy is to diversify rather than pull out of China entirely.
Until this year, UK employers had to acquire physical documents from their employees as proof of their right to work in the UK, a process many found needlessly cumbersome. Employers may now fulfil their obligations using an online service, which provides real-time information on migrants’ right-to-work status.
If you’re a U.S. taxpayer with a bank account outside the country, you may need file an FBAR, which is used to report foreign account information to the U.S. government. Failure to file can result in severe penalties, with fines as high as $100,000 or 50% of the account's balance.
A G7 group issued a report saying considerable work needs to be done before Facebook’s much-hyped Libra currency could gain approval and warning that cryptocurrencies could destabilise the global financial system unless they’re tightly regulated.
The UK’s off-payroll working rules, commonly referred to as IR35, tell employers how to classify contractors and other workers. They’re already complex, but changes effective next year will make them even more difficult to understand and follow. We tell you what you need to do to prepare.
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.
Japanese workers put in some of the world’s longest shifts, which has had detrimental effects on their physical and mental well-being. A new bill aims to address the problem by tightening regulations on long hours and addressing workplace inequalities.
China has announced significant changes to its individual income tax (IIT) regime. Many of the changes are intended to benefit Chinese citizens, but the new regulations also affect foreign workers based in China.