United States: House Rule Change Could Make Tax Cuts Easier

The new Republican-controlled Congress convened for the first time on Jan. 6, and Republicans in the House of Representatives immediately adopted a new rule for how to score tax legislation. The change may make it easier to reform the tax code or pass tax cuts.

The rule was adopted on a party line vote and requires the Joint Committee on Taxation (JCT) to address the overall economic impact of tax changes when estimating the revenue […]

By |January 22nd, 2015|

Royalty Payments And Tax Relief – How To Keep The Taxman Happy In India

Since the abolition of royalty caps, there has been uncertainty as to how much Indian subsidiaries can pay their parent companies to license intellectual property. Two cases offer some useful guidance in this sensitive area

Success in today’s competitive market depends on production quality, innovation, low costs and the right marketing strategies. Whether intellectual property lies in a well-known brand name or a new technology that gives a manufacturer an edge over its competitors, IP […]

By |January 21st, 2015|

United States: IRS Likely To Issue Guidance On 2014 Extension Of Bonus Depreciation For Short Tax Year And Fiscal Year Filers

The Tax Increase Prevention Act (H.R. 5771) extended 50% bonus depreciation for property placed in service in 2014 (2015 for certain long-lived and transportation property) and extends the ability to claim unused alternative minimum tax credits in lieu of bonus depreciation. Some taxpayers, like fiscal year filers or short tax year filers, may have already filed tax returns including property placed in service in 2014.

In prior years, the IRS and Treasury have published guidance […]

By |January 21st, 2015|