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Former KPMG partners charged in US fraud case

Six accountants including three former KPMG partners are facing charges of fraud in the US over allegations of involvement in a scheme warning of upcoming inspections from the Public Company Accounting Oversight Board (PCAOB). This case raises difficult questions about the regulatory environment in the US.

Josh White, January 31 2018

Kemp and Sinclair join Wolrige Mahon from Collins Barrow

Wolrige Mahon, a large public accounting firm in Canada affiliated with Baker Tilly International, has hired David Kemp and John Sinclair as partners in its new office in Toronto.

Joe Stanley-Smith, January 30 2018

Demonetisation seeks to abolish black money

India bans PwC over the Satyam case

The Satyam fraud case was worth around 9,000 rupees crore ($1.7 billion) In a shocking turn of events, India's securities regulator has banned PwC from auditing listed companies for two years over a $1.7 billion fraud case involving Satyam, a computer company which employed PwC as its auditor. The Big 4 firm is now appealing the decision.

Josh White, January 30 2018

China gets competitive with foreign investor tax incentive in wake of US tax reform

A tax war could begin between the world’s two biggest economies after China said it will allow foreign investors to claim a refund for direct investment made in 2018. Can taxpayers expect further perks in 2018 in reaction to the US tax reform?

Joe Stanley-Smith, January 30 2018

Deals of the month

See who has done the tax work on this month’s biggest deals

January 30 2018

Italy leads the way with trend-setting digital sales tax

Italy is set to impose a new tax on digital transactions, potentially setting a trend for Europe as a way to tackle the problem of tax avoidance among high-tech companies. But is unilateral action the way forward?

Josh White, January 30 2018

Indonesia: Taxation related to oil and gas gross split PSCs and update on new transfer pricing implementing rule

On December 28 2017, Government Regulation No. 53 of 2017 concerning Tax Treatment on Oil and Gas Upstream Business Activities with Gross Split Production Sharing Contracts (GR No. 53/2017) was enacted.

January 30 2018

Turkey: New VAT liability for non-resident electronic service providers

On November 28 2017, Article 9 of the Turkish Value Added Tax (VAT) Law on the parties liable for tax was amended. The new amendment stipulates that VAT arising from services provided electronically by those without a residence, workplace, headquarters, or business centre in Turkey to individuals in Turkey who are not VAT taxpayers must be declared and paid by the non-resident e-service providers.

January 30 2018

Special features - February 2018

Read this month's special feature on Malta

January 30 2018

Albania: Albanian government reduces VAT rate for tourist accommodation services

In November 2017, before the approval of the budget for the 2018 fiscal year, the government of Albania approved the Decision of the Council of Ministers (DCM) no. 652, dated November 10 2017, which made several changes to DCM no. 953/2014 as regards the implementing provisions of the Value Added Tax Law.

January 30 2018

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