Bloomberg Tax
Transfer Pricing Report

Brazil’s House Backs Tax Reform, Sending Local Markets Rallying

Brazil’s lower house approved a proposal to overhaul the country’s labyrinthine tax rules, fueling a rally in the local stock and currency markets.

Some Research on Style, Design Can Use Tax Credit, IRS Says

A taxpayer may be able to claim the research credit under certain circumstances for expenses that relate to matters such as the style or design of a product, so long as the research was intended for substantive matters like improving the product’s performance, the IRS says.

Dispute Tools Needed Amid Global Tax Deal, Swedish Official Says

Better access to dispute resolution tools in treaties is critical as countries implement major tax changes, including an agreement to overhaul global tax rules, a senior Swedish ministry official said Friday.

Oil Industry Wants to Avert Big Minimum Tax Hit on Green Credits

The US should negotiate a favorable global minimum tax treatment for US green energy credits, the American Petroleum Institute told the Treasury Department in a letter on Wednesday.

Spotlight on Accounting and Financial Firm CEO Tiffany Watson

Our Spotlight series highlights the careers and lives of tax professionals around the world. This week’s Spotlight is on Tiffany Watson, the CEO of All Aboard Financial, a virtual accounting and financial consulting firm based in Tampa, Fla.

Latest Stories

Week in Insights: Fireworks Taxes Internalize an Externality

This week, our experts covered topics ranging from Wisconsin’s repeal of its business personal property tax to Canada’s proposed new transfer pricing rules. For a look at the latest commentary and analysis, check out our weekly roundup.

Some Research on Style, Design Can Use Tax Credit, IRS Says

A taxpayer may be able to claim the research credit under certain circumstances for expenses that relate to matters such as the style or design of a product, so long as the research was intended for substantive matters like improving the product’s performance, the IRS says.

Brazil’s Haddad Says Vote on Fiscal Rule on July 7 Is Possible

Finance minister Fernando Haddad said he believes it will be possible to vote on the proposals for the new fiscal framework and the CARF bill in lower house tomorrow; postponing the vote to August could harm the budget, he said to journalists in Brasília.

Lula Expects Brazil’s Tax Reform To Be Approved

The tax reform proposal, which will begin being discussed on Thursday and may be voted on in the Chamber of Deputies in the evening, will be approved, said president Luiz Inacio Lula da Silvaduring a meeting of the Industrial Development Council in Brasilia.

Tax Developments

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United Kingdom Lower House Considers Statutory Instrument to Amend Regulations on BEPS, CbC Reporting

The United Kingdom House of Commons July 5 accepted for consideration Statutory Instrument No. 752/2023, to amend tax regulations on base erosion and profit shifting (BEPS) and country-by-country (CbC) reporting. ...

Sierra Leone Gazettes Finance Act, 2023

The Sierra Leonean Official Gazette March 28 published Finance Act, 2023. The law includes measures: 1) changing the stamp duty fee rate on conveyances of real and personal property, mortgage ...

Denmark Tax Agency Clarifies Dividend Tax Liability, Transfer Pricing Documentation Requirements for Specific Controlled Transactions

The Danish Customs and Tax Administration July 5 posted online Eastern High Court Decision No. SKM2023.316.ØLR, clarifying transfer pricing documentation requirements for controlled transactions. A Danish company entered into a ...