article thumbnail

US Treasury: Taxes On Digital Companies Are Discriminatory

PYMNTS

Treasury official said a French tax plan targeting American digital companies is discriminatory against American businesses. After a European Union plan for tax reform fell apart, France, along with Britain, Italy and Spain, are moving forward with plans to tax companies like Google and Apple.

article thumbnail

How Advisors Can Offer Tax Planning And Stay In Compliance

CFO News Room

And the consequences for incorrect tax advice can include legal and financial penalties if a client were to be harmed by the wrong advice – which is often not covered by the firm’s E&O insurance –creating an expensive liability when tax advice goes wrong. How The IRS Regulates Tax Advice.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Trending Sources

article thumbnail

What to Know About the Corporate Transparency Act

CFO Simplified

We anticipate that the US Department of Treasury will appeal to the US Court of Appeals for the 11th Circuit. Robert Garner, a partner in LP’s Corporate and Tax Planning Practice Groups , advises clients on tax planning in connection with a wide variety of transactions.

article thumbnail

What to Know About the Corporate Transparency Act

CFO Simplified

We anticipate that the US Department of Treasury will appeal to the US Court of Appeals for the 11th Circuit. Robert Garner, a partner in LP’s Corporate and Tax Planning Practice Groups , advises clients on tax planning in connection with a wide variety of transactions.

article thumbnail

Nations Move Toward Imposing ‘Digital Taxes’ On Big Tech

PYMNTS

France has long been angling to levy digital taxes, although such moves have become a bone of contention with the United States and have faced significant delays. Treasury argued last year that one such French tax plan was discriminatory and unfairly targeted U.S. billion of French goods.

article thumbnail

EU Report Calls For Finance Authorities, AML Oversight

PYMNTS

Some tax reforms have been approved in the past year, but new ones have also been revealed, including a “cum/ex” tax scandal, which cost European treasuries €55 billion. The report said reform is hard to enable because some of the 28 countries in the EU “display traits of a tax haven and facilitate aggressive tax planning.”

Finance 60
article thumbnail

2022 Best-Of Highlights From The Nerd’s Eye View Blog

CFO News Room

stocks (which have a lengthy track record of outperforming inflation over long time horizons) and Treasury Inflation-Protected Securities (TIPS). For advisors who are prohibited from giving tax advice, tax planning can be an alternative approach for discussing tax matters with clients.

Planning 130