Accounting
Longtime IIA CEO Richard Chambers plans to step down in March
Richard Chambers, who has led the Institute of Internal Auditors for 12 years, will be stepping down effective March 31, 2021. The IIA plans to begin an immediate search for a new CEO. Original Article Posted at : https://www.accountingtoday.com/news/longtime-iia-ceo-richard-chambers-plans-to-step-down-in-march
Read MoreDistilled Spirits Taxes in Europe
All European Union (EU) countries levy excise duties on distilled alcohol; excise tax is applied to the cost of goods on purchase. The standard size of a liquor bottle in the EU is 700ml (23.7 oz). Many spirits, such as vodka, gin, rum, and whiskey, contain alcohol content in the range of 40 percent. The…
Read MoreAustria Is Mulling an Allowance for Corporate Equity
Last week, Austria’s Finance Minister Gernot Bluemel stated that Austria is looking at introducing a tax allowance for corporate equity—or sometimes also referred to as notional interest deduction—as early as next year. Such an allowance would allow businesses to deduct a defined rate of interest on equity from their tax base—a measure that intends to…
Read MoreThe History of Excess Profits Taxes Not as Effective or Harmless as Today’s Advocates Portray
Oxfam America has released a new publication purporting to show that 17 of the top 25 most profitable U.S. companies “are expected to make almost $85 billion more in 2020 super-profits compared to previous years.” Drawing from the recent work of Reuven Avi-Yonah, which was inspired by the World War II excess profits tax, Oxfam…
Read MoreAprio teams with CPAsNET
Aprio LLP, a Top 50 Firm based in Atlanta, and CPAsNET, a community of accounting and business consulting firms, have formed a strategic partnership. Original Article Posted at : https://www.accountingtoday.com/news/aprio-teams-with-cpasnet
Read MoreState CPA society CEOs call for federal relief for state and local governments amid coronavirus
Massachusetts Society of CPAs president and CEO Amy Pitter is spearheading a group of 28 state CPA society heads who have sent a letter to congressional leaders asking them to help state and local governments. Original Article Posted at : https://www.accountingtoday.com/news/state-cpa-society-ceos-call-for-federal-relief-for-state-and-local-governments-amid-coronavirus
Read MoreBDO merges in ACM
BDO USA is expanding in Colorado and Wyoming by adding ACM LLP, formerly known as Anton Collins Mitchell LLP, a firm based in Denver. Original Article Posted at : https://www.accountingtoday.com/news/bdo-merges-in-acm
Read MoreRelief granted to opportunity zone investors in light of coronavirus
The Tax Cuts and Jobs Act created opportunity zones as an economic development tool to stimulate investments in distressed communities. Original Article Posted at : https://www.accountingtoday.com/opinion/treasury-grants-relief-to-opportunity-zone-investors-in-light-of-coronavirus-pandemic
Read MoreSales Tax Holidays: Politically Expedient but Poor Tax Policy, 2020
Key Findings Sixteen states will hold a sales tax holiday in 2020, down from a peak of 19 in 2010 but unchanged from last year. Given the coronavirus crisis, Tennessee established a second sales tax holiday, targeting restaurants. Sales tax holidays do not promote economic growth or significantly increase consumer purchases; the evidence (including a…
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