The Tax Exchange - January 2017
In a new video, Ken Almand from RSM UK discusses the likely changes in tax policies in the United Kingdom and in the United States as a result of Brexit and the U.S elections.
The new Trump administration is garnering attention worldwide. Ken Almand, Head of Transfer Pricing at RSM UK, recently explored the possibilities for new U.S. corporate tax rates under President Trump’s administration and whether multinationals will rush to review their tax strategies and transfer pricing in the United States.
Recently, the New York State Comptroller quietly revised the 2017 unclaimed property voluntary compliance agreement reducing the reportable period reach-back to 2007 for “general ledger” type property.
The District of Columbia has joined the growing movement towards putting an end to the “tampon tax” – a sales tax on tampons and other feminine hygiene products.
Recently the Treasury released final regulations requiring information reporting from foreign-owned domestic disregarded entities. Previously an opaque area, these new regulations demonstrate U.S. commitment to transparency and information exchange in the international tax area.