Hot on the heels of the presentation of the primetime Emmy awards earlier in the week, the seventh annual Americas Tax Awards ceremony took place in New York on September 27.
The definition of management fees varies substantially around the world and that is leading to tax authorities mounting more and more challenges to what companies believe they are entitled to deduct from their taxable income under this heading.
Malaysian taxpayers that were allowed to delay adopting International Financial Reporting Standards (IFRS) have been given more time before they have to start using the accounting rules.
Now that the UK Finance Bill has passed its final stage in the House of Commons, the cut in corporation tax has implications depending on the accounting standards or principles a company uses.
The good news for taxpayers in the draft guidelines for the implementation of general anti-avoidance rules (GAAR) in India is that the measures will not be retrospective when they take effect from April 1 next year.
An unresolved sales tax liability related to its Vadinar refinery in the Indian state of Gujarat clouded the annual accounts presentation by Essar Energy, the natural resources company, just as another decision related to the issue went against it in the courts.
