Income Tax and National Insurance are now sufficiently similar that merging them appears to be a plausible option, yet still sufficiently different that integration raises significant difficulties. This paper surveys the potential benefits of integration – increased transparency and reduced...

The demand for oil and natural gas in the country is directly proportional to the growing population and changing consumption trends. The case for India is no different. Even though the emphasis is on shifting to consumption of non-conventional sources of energy, oil and natural gas continue to...

In this article, the author examines, through numerical examples, the effects would EU Member States subject taxpayers – both residents and non-residents – deriving income from domestic sources, to unlimited income taxation whilst granting double tax relief for foreign income under a...

This outline covers significant development in federal income taxation along with a few other interesting or noteworthy tax topics. The outline also includes brief coverage of the ATRA 2012 and some significant developments under the ACA. It is not intended to provide exhaustive coverage, but it...

This paper examines the Small Business Entities (SBE) income tax accounting concessions (for prepaid expenses; depreciating assets and trading stock ) that replaced the former Simplified Tax System (STS) concessions on 1 July 2007. Given that the former STS concessions have been subject to much...

The income tax laws currently run to over 8,000 pages of legislation in stark contrast to the relatively succinct accounting rules. This highlights the many differences between these rules in determining and calculating net income. The Ralph Report though sought to ‘align more closely taxation...

On March 25, 2019, the FASB released Proposed Accounting Standards Update (Revised) concerning Income Taxes (Topic 740).There is a critical need to expand required disclosures for multinational groups (MNCs) under generally accepted accounting principles. Many MNCs carry material tax risks from...

Technological advancements are playing a transformative role in curtailing the need for labor. These very same forces are catapulting capital in the form of robotics, machinery, and intellectual property to the economic forefront. In virtually every sphere of human existence, labor's decline and...

The new US income tax deduction for “foreign-derived intangible income” effectively lowers the corporate tax rate — from 21% to around 13% — on export-generated income attributable to intangible assets. This paper considers the new provision both in relation to international trade and...