In December 2018, the IRS and the U.S. Treasury Department proposed changes to the guidelines for taxing PFICs. The new regulation seeks to reduce some of the existing rules from theForeign Account Tax Compliance Act (FATCA)and will precisely define an investment entity.8More proposed changes ...
Profit stripping, also known as earnings stripping, is a method for a corporation to reduce its tax liability. A corporation does this by paying large amounts of interest payments to a foreign affiliate, which in effect is moving taxable income from the U.S. to a foreign entity under the ...
GSTIN, short for Goods & Services Tax Identification Number is a 15-digit, unique identification number allotted to each taxpayer (GST registered business, firm, dealer, supplier, business entity) once they have registered under the GST regime in India. Every business operating in a state or Un...
In rare cases, the profits from a spread bet may be considered taxable income if they are directly linked to a trade. This typically occurs when the spread bet is used to hedge a risk arising during the course of business. However, unlike investments in securities or commodities, engaging in...
How Can We Take Service Tax - VAT Input Tax Credit in GST RETURN What to do before lodging the Claim of the difference of tax under ITC? Transfer of Credits The New system under GST effective from July 1, 2017, allows a taxable person to collect the credits of previous taxes paid (bef...
Carbon Footprintis a NWO doublespeak term which has been defined as “the total sets of (potentially taxable) greenhouse gas emissions caused by an organization, event, product or person.” See Kyoto Accord. CICCanadian Islamic Congress, well known for utilising lawfare techniques, etc. in order...