Territorial tax system

Reminder of inversions – AAF

Summary The US tax code became increasingly less competitive from the late 1980s, leading to a series of expatriations or business reversals, in which businesses reorganized abroad to escape the tax system. American. This phenomenon largely ceased following the enactment of the Tax Cuts and Jobs Act (TCJA) in 2017; …

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Territorial tax systems in Europe, 2021

In a territorial tax system, multinational companies mainly pay taxes to the countries in which they are physically located and earn their income. This means that territorial tax regimes generally do not tax corporate income in foreign countries. On the flip side, a global tax system, such as the system …

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VAT on the sale of services to RBE PEZA

TThe imposition of a 12% value added tax (VAT) on local purchases by PEZA registered businesses continues to generate debate and concern. The Bureau of Internal Revenue (BIR) issued Revenue Regulations (RR) No. 9-2021 stating that certain sales that were previously considered zero-rated for VAT are now subject to 12% …

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Clameur around RR 9-21 | Manila weather

More than a month has passed since the Bureau of Internal Revenue (BIR) issued Revenue Regulations (RR) 9-21 – a three-page document that applies a value-added tax (VAT) of 12 per cent on national purchases of exporters and indirect purchases of exports. The regulation has caused confusion among business enterprises …

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Pushing back the Biden tax cartel

President Joe Biden signs an executive order on “Promoting Competition in the U.S. Economy” at the White House in Washington, DC on July 9, 2021. (Evelyn Hockstein / Reuters) Of Deutsche Welle, yesterday: Ireland is about to abandon its 12.5% ​​corporate tax rates later this year, Irish media reported on …

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