Baker McKenzie’s VAT/Indirect Tax Practice presented “VAT Around the World Pt. 2” on 2 December 2020. This was the seventh presentation in the International VAT Conference Webinar Series, a global webinar series designed for VAT specialists from all industry sectors that aims to discuss the latest developing trends and hot topics in the VAT/goods and services tax (GST) and customs arena.
New York lawmakers recently introduced two bills to expand the application of the New York State False Claims Act (“FCA”). The first intends to require the FCA to apply to non-filers, the second to remove the scienter element (i.e., no longer imposing a “knowing” requirement). Although both bills are retroactive and concerning, removing the scienter element should put all businesses on high alert as enforcement of the tax laws could now be in the hands of opportunistic whistleblowers and/or the New York State Office of the Attorney General (AG).
On 5 August 2020, the Baker McKenzie State and Local Tax (SALT) Subpractice Group covered coast-to-coast state and local tax developments. The purpose of this webinar was to keep you informed of updates and trends that may affect your business.
Recently, two states unveiled transfer pricing enforcement tactics to, in their view, combat improper intercompany profit shifting.
The Idaho Supreme Court recently affirmed a District Court’s judgment that the gain from the sale of a 78.54% membership interest in a limited liability company did not constitute ‘business income’ under Idaho Code section 63-3027. In Noell Indus. Inc. v. Idaho State Tax Comm’n, Docket No. 46941 (Idaho 2020), the court determined that “this type of gain does not meet the definition of ‘business income’ under either the transactional test or functional test (including the unitary business test),” and was therefore not apportionable income.
Numerous states have provided tax relief in response to the COVID-19 outbreak, often in the form of tax filing and payment deadline extensions. At this time, 40 states and Washington, D.C., have provided a corporate income tax filing and/or payment deadline extension. Some of these states have conformed to the…
Many employees are now telecommuting due to the COVID-19 outbreak. In our previous blog post,we discussed employers’ potential withholding issues as a result of employees working remotely. In this blog post, we will discuss potential nexus and apportionment issues due to employees working remotely. In the corporate income tax context,…
As the 2019 Novel Coronavirus (COVID-19) continues to spread across the world and restrictions to the mobility of people and goods increase, businesses are facing weakened financial markets, as well as disruption to workplace operations and business pipelines. Tax authorities across the globe have enacted amendments in order to cope…