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Tax-News.com: FASB Seeks To Ease Transition To New Credit Losses Standard

On February 6, 2019, the Financial Accounting Standards Board (FASB) issued a proposed Accounting Standards Update (ASU) that would ease transition to the credit losses standard by providing the op...

Tax-News.com: Mexico Enacts Decree For Tax Cuts In Border States

Mexican President Andres Manuel Lopez Obrador has signed a decree providing for tax cuts in the Mexican states bordering the United States....

Tax-News.com: IRS Issues Proposed Regulations On BEAT

On December 13, 2018, the United States Internal Revenue Service issued proposed regulations on the operation of the base erosion and anti-abuse tax, contained in Section 59A of the Internal Revenu...

Tax-News.com: OECD States Tapped VAT, CIT To Achieve Record Revenues In 2017

Last year, the tax burden in OECD countries reached its highest level recorded, at 34.2 percent of gross domestic product, up 20 basis points on 2016, largely due to increasing taxes on personal co...

Tax-News.com: OECD Reports Progress On Harmful Tax Regimes Work

Releasing a progress update, the OECD said international efforts to curb harmful tax practices and prevent the misuse of preferential tax regimes are having a tangible impact worldwide....

Tax-News.com: FASB Issues New Standard For Variable Interest Entities

The Financial Accounting Standards Board (FASB) on October 31 issued Accounting Standards Update 2018-17, intended to reduce the cost and complexity of financial reporting associated with consolida...

Tax-News.com: Estonia Tops Tax Foundation's Tax Competitiveness Index

Estonia has topped the Tax Foundation's International Tax Competitiveness Index for the fifth successive year, being deemed to have the "best tax code in the OECD."...

Tax-News.com: Global CPA Body Calls For International Digital Tax Solution

The Association of International Certified Professional Accountants has issued a policy paper calling for a multilateral approach to solving the tax challenges posed by the digital economy. ...

Tax-News.com: US Transition Tax Guidance Available

On October 10, 2018, the United States Treasury Department and the Internal Revenue Service published a Notice of Proposed Rulemaking in the Federal Register notifying taxpayers of the availability...

Tax-News.com: US Urged To Trim Tax Form W-4

The American Institute of CPAs has urged the Internal Revenue Service and the US Treasury Department to simplify the draft 2019 Form W-4, Employee's Withholding Allowance Certificate, and the acco...