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    Blog Post

    How Technology Ensures Tax Clarity in Latin America

    As I indicated in my last post and my colleagues Ana Paula Maciel and Ernesto Levy note in a recent webcast, Latin America is one of the largest and fastest-growing regions for U.S. exports. Of course, many countries in the region are also renowned for the intricacy of their tax environments. Companies looking to enter or expand their activities throughout Latin America need to master the complex challenges of transactional tax data management in the region.
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    Blog Post

    What is the concern about data security with CbC Reporting?

    The CbC report will be filed with the tax administrator in the tax jurisdiction of the MNE's ultimate parent. Thereafter, that tax jurisdiction is responsible for submitting the template to other tax jurisdictions in which the MNE operates. The primary method for automatically exchanging the template between tax administrators will be government-to-government mechanisms, such as bilateral tax treaties and tax information exchange agreements. There is a lurking vulnerability of information mismanagement between governments.
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    Blog Post

    Total Number of Annual U.S. Sales Tax Changes Tops 600 Again

    U.S. Sales tax changes are once again on the rise. This trend marks one of the key takeaways from Vertex’s annual Sales Tax Rate Study, which shows 612 sales and use tax rate changes in the U.S. for 2015.
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    Blog Post

    How will CbC Reporting cause increased tax controversy & reputation risk?

    Multinational corporations (MNCs) are (rightly or wrongly) seen by many as undermining the credibility of the international tax system by paying what is sometimes perceived as unfair tax rates. Most global executives are aware of cases where publicly traded companies have had to openly respond to governments and the press about their tax affairs; therefore, it would be prudent to plan for an uptick in tax controversy due to the CbC reporting template.
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    Blog Post

    Tax Transformation is Getting Faster and Easier (Really)

    Francis Bacon once said, “Time is the measure of business.” Bacon’s wise observation from nearly 400 years ago is complemented by some modern wisdom from MIT Sloan Research Scientist George Westerman that Gartner’s Paul Stokes recently tweeted (and I retweeted): CIO[s] must allocate their time not to where the budget is but to where the org is meant to be by shaping it to where it can be.
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    Blog Post

    Why are audits a potential concern related to CbC reporting?

    Because of its inherent importance as an initial audit risk assessment tool, one must assume that the template will serve as part of the transfer pricing analyses and reconciliations needed once a transfer pricing audit is invoked by the various taxing authorities.
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    Blog Post

    What countries have agreed to participate in the new CbC reporting requirement?

    The G20 leaders at their summit in Antalya, Turkey, on November 15-16 of last year endorsed 13 final reports developed under the G20/OECD base erosion and profit shifting (BEPS) project and urged the timely implementation of the project in all countries, including developing nations.
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    Blog Post

    Urgent or Important? A Crucial Question for Tax Functions

    In the 1950s, President Eisenhower delivered a speech in which he grouped his biggest problems into two categories, the urgent and the important. The challenge, he added, was two-fold: urgent problems were rarely important while important problems were not urgent. In 2016, tax functions confront a similar problem as they struggle to differentiate between urgent tasks and the important ways in which they should support and further business goals and performance.
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    Blog Post

    What is the deadline for CbC reporting requirements?

    The OECD has recommended that countries require MNEs to file the initial country-by-country template for fiscal years beginning on or after January 1, 2016 and within one year after the close of its fiscal year. For example, a calendar-year company would be required to file its initial template for 2016 by December 31, 2017. While many countries are adopting these effective dates, there are some that are not.
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