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Practitioner Insights

U.K. Freeports—Will They Benefit Business?

As part of the government’s plan to establish several freeports, the U.K. tax authority has recently issued guidance for businesses on operating in a freeport site. Ian Worth of Crowe UK looks at the background to this initiative, the potential benefits and the challenges going forward.

Vietnam’s Revamped Rules on Advance Pricing Agreements

Sean Foley and Lillie Sullivan of the Washington National Tax practice of KPMG LLP, and Duong Hoang, Joseph Vu, Ha Tran, Thang Nguyen, Tri Ngo, and Thu Huong Nguyen of KPMG Tax and Advisory Limited, KPMG’s member firm in Vietnam, outline Vietnam’s recently revamped advance pricing arrangement (APA) program and highlight factors that interested taxpayers should consider when applying for an APA in Vietnam.

Commentary & Opinion

Which Program for Children Should Democrats Cut?

It’s not exactly Sophie’s Choice, but it’s still painful for Democrats. Their big spending bill includes three programs for children: a subsidy for child care, monthly checks to parents and a paid family leave program. But they need the vote of Senator Joe Manchin of West Virginia, and he says they can have only one of the three. They should go with the checks.

Democrats’ Plan to Catch Tax Cheats Makes Sense

One of the most controversial ideas proposed so far in Joe Biden’s presidency has to do with the wonky world of Internal Revenue Service reporting forms. In an effort to ferret out tax cheats, Biden wants banks to tell the IRS at year end what the total amount of withdrawals and deposits were for each of its customers.