More than 60 delegates from 16 countries met recently at the regional meeting of the Inclusive Framework on base erosion and profit shifting (BEPS) in Eastern Europe and Central Asia to discuss implementation of the BEPS measures.
The Jersey Government has issued details of new legislation that would introduce economic substance requirements for companies resident in Jersey for tax purposes.
Audit, tax, and advisory firm KPMG LLP has named Manal S. Corwin as the principal-in-charge of the firm’s Washington National Tax practice.
Corwin is based in Washington DC and succeeds Joe Pari. Corwin has served the firm for over five years as national leader of the firm’s International Tax practice and principal-in-charge of international tax policy.
In her new role, Corwin will lead a team of experienced tax professionals, serve as KPMG’s ultimate tax technical resource and be involved in client service. She will also continue in her role leading KPMG International’s Global Base Erosion and Profit Shifting (BEPS) network.
Corwin re-joined KPMG in 2013 following completion of her tenure as deputy assistant secretary of tax policy for international tax affairs at the US Department of the Treasury. While at Treasury, she also served as international tax counsel in the Office of Tax Policy and was a US delegate and vice chair to the OECD’s committee on fiscal affairs, with active involvement in the early stages of its BEPS initiative.
Jeffrey C. LeSage, Americas Vice Chairman—Tax at KPMG, said: “Manal brings to this position a unique combination of tax technical knowledge from both the public and private sectors, impressive professional achievements, and client service success for some of our firm’s largest and most prestigious clients. Her leadership and insight will be critical for our clients as they look to our WNT practice for guidance in complying with ever-changing tax regulations in the US and worldwide.”
Curtis Best has joined the New York office of Andersen Tax as Managing Director.
Curtis has over 26 years of experience in several areas, including international tax structuring. Best will be a part of the firm’s Commercial Practice group, with a particular focus in international services.
Loren Ponds has joined US law firm Miller & Chevalier as a Member in the firm’s tax department.
Previously, Ponds served as Tax Counsel to the US House of Representatives Committee on Ways and Means, where she was instrumental in the development of the international tax provisions included in the Tax Cuts and Jobs Act of 2017.
Hong Kong Government has gazetted law to allow enhanced tax deduction for expenses incurred by business enterprises on research and development (R&D) activities in Hong Kong.
The measure was announced by Carrie Lam, Chief Executive of Hong Kong, in her 2017 Policy Address.
In a decision delivered on October 5, India’s Income Tax Appellate Tribunal, New Delhi ruled that the Indian Income Tax Act cannot limit the claim of expenses of a permanent establishment in the absence of such limitation in the India-Mauritius tax treaty.
UK would introduce a two percent digital services tax (DST) to ensure digital businesses pay tax that reflects the value they derive from UK users, UK Chancellor Philip Hammond announced in his October 29 Budget Speech.
The US-based Association of International Certified Professional Accountants has called for international coordination to develop a global solution to the tax challenges posed by the digital economy.
Ukraine has published a draft law aimed at implementing some of key measures proposed under the OECD’s base erosion and profit shifting (BEPS) project.