All GLG News Analyses Filed Under: Tax Issues
Analyses are solely the work of the authors and have not been edited or endorsed by GLG.
-
Thomas KleinManaging MemberKleinCPA PLLC
Obama Expected to Sign Generous NOL Carryback Bill on Friday
November 5, 2009
Congress Passes Unemployment Bill With Tax Items | www.journalofaccountancy.com
On Thursday, Congress sent a bill to the White House containing enhanced net operating loss (NOL) carryback opportunities for most companies. The bill contains a provision extending the NOL carryback period from two years to five years for losses incurred in 2008 or 2009. President Obama is expected to sign the bill on Friday which would result in the immediate filing for refunds by many companies.
-
October 31, 2009
Obama Taking Hands-Off Stance on Citi, AIG Pay | www.bloomberg.com
By setting up Kenneth Feinberg as the bad guy, the Obama administration can claim that it is taking a hands-off stance with respect to executive pay. Nothing can be further from the truth. Mr Feinberg derives his authority from the same government that claims to be taking a hand-off approach. This is not to say that the federal government should not have a "say on pay" for banks and automakers that have been bailed out with taxpayer funds, many of whom would not be in business otherwise.
-
Thomas KleinManaging MemberKleinCPA PLLC
Obama Administration Moves Foreign Earnings Tax Deferral Reform to Back Burner
October 13, 2009
Business Fends Off Tax Hit | online.wsj.com
Once again, a proposal to reform how a U.S. based multinational company's foreign earnings are taxed has failed to gain congressional support. Similar proposals introduced over the past twenty years have consistently failed to gain traction. The current proposal was part of the Obama administration's fiscal year 2010 budget which made reference to additional tax revenues in excess of $200 billion related to the reform of corporate taxation on foreign earnings.
-
Spain's growing budget deficit - a Spanish opinion
October 2, 2009
Spain's growing budget deficit: Taxing times | www.economist.com
Mr Rodríguez Zapatero's economic policies demonstrated to be inconsistent, improvised and unsustainable.Spain needs more time and harder work than peer countries to recover. Structural reforms on education, fighting spreading corruption and strengthening the national political tissue are much needed to help the economy return to its growth path.Recession, unemployment and credit crunch expected to continue during 2010.
-
September 29, 2009
Spain's growing budget deficit: Taxing times | www.economist.com
Economic crisis in the Spanish Government undertakes a way of raising taxes to try to maintain consumption with social measures without increasing the deficit at a level insurmountable.Notwithstanding that higher taxes, especially VAT, does not seem well designed and that certain errors persist, health, and instead do not raise taxes to record the highest incomes.
-
An unique form of British Justice of International nature
September 15, 2009
Sweeping proposals to change Indian tax laws could scare off foreign investors | www.timesonline.co.uk
Different standards for different peopleGreed, for power and Pelf.
-
The Consequences of The UBS Tax Evasion Cases
September 1, 2009
IRS Corporate Audit Division Will Examine UBS Tax Evasion Cases | www.bloomberg.com
As the IRS examines the 4,450 UBS AG Swiss bank accounts it would do to remember that companies offshore as well as individuals. If you do not understand the structure of the company, or the role/purpose of its offshore holdings then treat it with extreme caution. The international regulatory environment (wrt offshore companies and tax treaties) will tighten over the next few years, thus making it increasingly difficult for companies to use these dubious structures.
-
The Financial Services Authority Plays To The Gallery
August 28, 2009
FSA Chairman Suggests a Tax on Banks, Drawing a Lot of Fire | online.wsj.com
The Financial Services Authority (FSA), fearful of being shut down by the incoming Tory government, has indulged in popular politics and made some suggestions that play to the gallery wrt taxing bankers' bonuses. This suggestion is a non starter, as Britain (like it or not) needs a robust financial services industry, given that it has no manufacturing base to speak of.
-
August 26, 2009
Closing the Havens | www.ft.com
HMRC scored something of an embarrassing own goal, when it signed up with Mapeley.
-
The Reality of UBS and Liechtenstein Tax Settlements
August 25, 2009
Swiss Don't See Defeat in Deal to Give Names to U.S. | online.wsj.com
The settlement between the Internal Revenue Service and UBS AG has been hailed around the world as a victory for U.S. tax authorities. In the UK similar moves against offshore tax evaders have been made by Her Majesty's Customs and Revenue (HMRC). As HMRC resorts to increasingly desperate measures, it should consider the cost benefits of such "fishing trips". Will the extra tax raised cover the administration costs incurred by both HMRC and the banks?
- Subscribe to Updates
-
Leading institutions connect with members of the Accounting & Financial Analysis councils through GLG
Get Intelligently Connected
with the world's leading experts
GLG's 850+ Clients Include:
- More than 70% of the world's leading
- mutual funds
- 15 of the leading 20
- global banks
- 7 of the leading 10
- global private equity firms
- 5 of the leading 10
- AmLaw firms
- Fortune 500® Companies
- in nearly every industry sector, including pharmaceuticals, insurance, chemicals, energy and computer software
Most Popular Tax Issues News
-
Obama Expected to Sign Generous NOL Carryback Bill on Friday
November 5, 2009
-
Obama Administration Moves Foreign Earnings Tax Deferral Reform to Back Burner
October 13, 2009
-
The Consequences of The UBS Tax Evasion Cases
September 1, 2009
-
August 26, 2009
-
The Reality of UBS and Liechtenstein Tax Settlements
August 25, 2009