United States: President Proposes $320 Billion In Tax Increases And Incentives

President Obama rolled out an ambitious new tax platform in his State of the Union address on Jan. 20. The new proposals would increase taxes on investment income and high-income earners to pay for new incentives for low-income taxpayers but widen the gap between the president and the Republican Congress.

The proposals stand little chance of enactment, with Republicans controlling Congress, and may establish taxation as a campaign issue for 2016 rather than an item […]

By |February 5th, 2015|

European Union: Tax May Be Taxing, But No Tax May Be Even More Taxing!

EU Competition Commissioner hints at potential state aid sanctions for favourable tax rulings
On 16 January 2015 the European Commission (“Commission”) gave one of its clearest indications yet that it is seeking to clamp down on unfair tax breaks or ‘waivers’ for underpaying companies through the EU rules on state aid.  It published its decision to open an in-depth state aid investigation into the corporation tax treatment in Luxembourg of certain transfer pricing arrangements involving […]

By |February 4th, 2015|

Brazil: Decree No. 8.373/2014: Digital Bookkeeping System Of Tax, Social Security, Labor And Social Obligations

Keywords: digital bookkeeping, social security

On December 12, 2014, the Official Gazette published Decree No. 8,373/2014, which institutes the Digital Bookkeeping System for Tax, Social Security, Labor and Social Obligations.

This system aims at the integration of tax, social security and labor information of the company, facilitating cross-checks by the Federal Revenue and, consequently, increasing the efficiency of tax inspections.

In the context of the Social Security, there is collection of contributions established by Law 8,212/91 on […]

By |February 4th, 2015|