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KPMG Australia axes legal division as firm eyes tax success

by usoftax_admin | Jul 16, 2024 | Tax News

Around 30 roles are to be cut as the firm’s tax controversy and disputes practice will be incorporated into its tax division

Sweden proposes changes to interest deduction limitation rules

by usoftax_admin | Jul 16, 2024 | Tax News

Maria Andersson Berg of KPMG Sweden explains the main proposed amendments and says joint calculation of the deduction base and net interest income will create a more favourable system for most groups

NRA’s Policies Called ‘Dumpster Fire’ As 2nd NY Trial Opens

by usoftax_admin | Jul 15, 2024 | Tax News

The New York attorney general cast the National Rifle Association as unrepentant and unreformed as a second-phase bench trial began in state court Monday, after a jury had found the group and its ex-officers liable for misspending millions.

CarMax Distorted SC Activity To Lower Taxes, Judge Says

by usoftax_admin | Jul 15, 2024 | Tax News

CarMax Auto Superstores Inc. used intercompany transactions to distort an entity’s business activity and thus its tax burden in South Carolina, an administrative law judge ruled, finding the company should have used an alternative apportionment method to...

Tax, Biz Groups Ask MTC To Toss Draft Truck Sourcing Rule

by usoftax_admin | Jul 15, 2024 | Tax News

The Multistate State Tax Commission should scrap or pause its attempt to create an alternative to the current mileage-based sourcing rule for trucking receipts, a tax group and others said during a meeting of an MTC work group Monday.

Israeli Firm Seeks To Amend Suit Against GILTI Regs

by usoftax_admin | Jul 15, 2024 | Tax News

The owner of an Israeli law firm asked a D.C. federal court to let him amend his challenge to regulations for the U.S. tax on global intangible low-taxed income after the D.C. Circuit determined parts of his arguments went unconsidered.
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