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Ala. Sees Dip In Net Revenue Through April

by usoftax_admin | May 7, 2024 | Tax News

Alabama collected roughly $23.49 million less in net revenue from October through April than it did during the same period last fiscal year, the state Department of Revenue reported.

Calif. Solar Co.’s Tax Assessment Not Time Barred, OTA Says

by usoftax_admin | May 7, 2024 | Tax News

The increased tax assessment on a California solar lighting company was not barred by the statute of limitations because the company and government failed to tell the state about the federal adjustment, the state Office of Tax Appeals ruled. 

UK ‘growing apart’ from EU in tax reporting post-Brexit

by usoftax_admin | May 7, 2024 | Tax News

The UK is also lagging behind other countries in use of technology for compliance purposes, Christiaan Van Der Valk argues

Treasury Floats Foreign Trust Reporting Rules

by usoftax_admin | May 7, 2024 | Tax News

The U.S. Treasury Department proposed regulations Tuesday that provide guidance on the requirements for individuals to report their transactions with foreign trusts to the Internal Revenue Service, including the receipt of large gifts.

ESOPs granted by holding companies: Indian tax and transfer pricing intricacies

by usoftax_admin | May 7, 2024 | Tax News

A multinational enterprise bearing the cost of an employee stock option plan granted to an Indian subsidiary creates several complexities, as explained by S Vasudevan, Harshit Khurana, and Sonali Bansal of Lakshmikumaran & Sridharan
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