Canada Aims to Shrink Green Tax Credit Backlog With Hiring Spree
Canada expects a slew of newly hired auditors to accelerate investment tax credit applications and deliver money to green technology investors, aiming to break through a backlog that has frustrated its clean technology program.
IRS ‘Significant-Issue’ Move Hailed as Boost for Letter Rulings
The IRS plan to resume providing individual private letter rulings to taxpayers on “significant issues” within corporate transactions will be a shot in the arm for the agency’s entire letter-ruling process, practitioners said.
Canada’s Carbon Tax Hinders Pipeline Plans, Cenovus CEO Says
Alberta’s planned oil pipeline to the west coast requires Canada to shift away from stricter climate policies and toward promoting greater oil production from new projects,
Turkey Proposes Corporate Tax Breaks to Lure Foreign Investment
Turkey’s ruling party is proposing a wave of fresh corporate tax incentives aimed at bringing capital and high-net-worth individuals into the country.
Swedish Lawmakers Grant Tax Agency New Powers Against VAT Fraud
The Swedish parliament approved Wednesday expanded powers for the national tax agency to combat value-added tax fraud.
Practitioner Insights
View More InsightsTax Developments
View MoreOECD Posts Updated List of Signatories for GIR MCAA
The Organization for Economic Cooperation and Development (OECD) May 5 posted an updated list of signatories, with signing dates, to the Multilateral Competent Authority Agreement on the Exchange of Global ...
OECD Updates List of Signatories to MCAA-CRS Addendum
The Organization for Economic Cooperation and Development (OECD) May 5 posted an updated list of signatories, with signing dates, to the addendum to the Multilateral Competent Authority Agreement (MCAA) on ...
Bahamas Announces FATCA Reporting Period for Financial Institutions
The Bahamian Government May 6 announced that the reporting period for financial institutions subject to the U.S. Foreign Account Tax Compliance Act (FATCA) is scheduled from May 1 to June ...
Latest Stories
Canada Proposes Global Minimum Tax Changes, Including US Exemption
Canada’s government introduced legislation Thursday to apply the so-called side-by-side deal struck at the OECD that exempts US companies from parts of the global minimum tax framework.
Treasury Plans Clarification of Foreign-Government Income Regs
The Treasury Department is planning guidance “in the very near future” to address an issue with the application of regulations on foreign governments’ income from US investments, a Treasury official said Friday.
IRS Plans to Propose Currency Gain, Loss Tax Guidance by Summer
The IRS and Treasury Department hope to release by this summer highly anticipated proposed rules on changes to the tax treatment of currency gains and losses, a Treasury official said.
Top French Court Backs Engie in Case on LNG Transfer Pricing
French tax authorities used the wrong comparables to challenge energy multinational Engie’s pricing of LNG transactions for foreign subsidiaries, France’s top administrative court ruled.
Treasury Wants Input on Defining Property for Bonus Depreciation
The Treasury Department and the IRS want public comments on various aspects of the standards under which manufacturing and refining property will be newly eligible for the bonus depreciation tax break on capital spending, a Treasury official said.
South Africa Says War Puts $130 Billion Revenue Goal at Risk
South Africa’s newly appointed tax commissioner warned that the Iran war could undermine the government’s ability to meet its revenue targets, as rising fuel prices drive costly subsidies and threaten to slow economic growth.
Trump Tariffs Make Tax, Customs Link Key for Managing Audit Risk
A year into the Trump administration’s global tariff campaign, many companies are still struggling to coordinate their trade functions with their tax and transfer pricing teams, risking messy audits in the years to come.
AI Reshapes Employer Group Health Plans for Fiduciaries—Pt 3
AI adoption raises profound ethical concerns—such as bias, transparency, privacy, and fairness—that ERISA fiduciaries must actively manage under their duties of prudence and loyalty, SBMA’s Alden Bianchi states.
China Adds Two Accounting Firms as H-Share Auditors
China-based accounting firms RSM and Baker Tilly got approval from China’s Ministry of Finance and the securities regulator to audit Hong Kong-listed companies, according to a ministry statement.
FROM ACROSS BLOOMBERG TAX
- Crypto
- Daily Tax Report ®
- Daily Tax Report State
- Financial Accounting
Fannie, Freddie’s Latest Bull Says Traders Underpricing IPO Odds
AI Chipmaker Cerebras Is Said to Plan Raising IPO Price Range
Coinbase Judge Tears Apart Token Holders’ Securities Fraud Case
Coinbase Sued Over Financial Systems in Blockchain Patent Claims
Bitcoin Campaign to Force SNB Holdings Has Failed, Reuters Says
Swiss crypto campaigners have abandoned a bid to require the central bank to hold Bitcoin after failing to collect enough signatures to trigger a plebiscite, Reuters reported.
Coinbase Resumes Trading After Seven-Hour Exchange Outage
Crypto exchange
EXPLORE BLOOMBERG TAX
Get the latest legal, regulatory, and enforcement news and analysis, as well as in-depth business and industry covering in the following areas:
