The tax authorities in the US have designed regulations to encourage employees to come forward with information about a corporation’s aggressive tax planning schemes, with promises of hefty rewards for tips that leads to the recovery of money. Erin Kelechava finds that these regulations and other new IRS initiatives, such as Schedule UTP, may complicate matters for corporate tax departments by requiring that they increase transparency, institute internal controls, and scrutinise their tax positions.
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Meanwhile, South Africa’s finance minister has accepted a court decision on suspending a VAT increase and US President Donald Trump mulls a 100% tariff on foreign films
Jaime Carey speaks about the benefits of his tax background, DEI values, the use of AI for a smarter legal practice, and other priorities that will define his presidency