Introduction After years of intensive negotiations to update and fundamentally reform international tax rules, 137 jurisdictions within the
The tax risk of improper signing of cross-border transaction contracts is “approaching the door”
Source: China Tax News Data from the National Bureau of Statistics shows that in the first quarter of 2022, my country's total import and export
New tax rebate measures to boost exports
In order to help foreign trade enterprises alleviate their difficulties, the State Administration of Taxation issued the "Announcement on Further
Comparison of Chinese and U.S. Corporate Tax Systems found that if the Biden administration’s proposed tax increase measures are passed, the tax bias against U.S. domestic investment will further deteriorate
Source: American Tax Foundation Compilation: Smart Finance International Tax Service Team Recently, the Tax Foundation published a research
Meal and Beverage Expense
Entertainment 100% Nondeductible Certain narrow exceptions to the 50% limitation allow taxpayers 100% deduction for qualifying food and beverage
Foreign Branch
In December 2018, IRS issued revised instructions to form 8858 which expanded the requirements to file this form to include the reporting of foreign
Subpart F and GILTI
To prevent the abuse of non-U.S.-source income tax treatment, the US Code requires Subpart F income to be included in the current year taxable income
Assessment statutes of limitation on the Sec. 965 Transition tax
LB&I released a memorandum (LB&I-04-1120-0020), which provides a six-year limitation period for the assessment of a net transition tax
Like-kind exchanges for the real property
New Regs. Sec. 1.1031(a)-3 provides a unifying definition of the real property for Sec.1031, real property includes “land and improvements to land,