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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MNEs are increasingly using algorithmic tools in TP. Sahasranshu Dash argues that data ethics should therefore plug directly into the TP design process
The sprawling legislation phases out Joe Biden-era green tax incentives for businesses; in other news, the UK will reportedly maintain its DST despite US pressure