On December 17, TEI submitted comments to the Organisation for Economic Co-operation and Development (OECD) recommending that it simplify the Pillar Two reporting requirements. TEI recommended that the OECD help coordinate the timing of payments, adjustments, and refunds across jurisdictions, which would reduce multinational enterprises’ compliance burdens. Other recommendations included… Read more »
From December 16 to 19, TEI hosted its second annual TechTAXcelerate webinar series, an innovative event dedicated to exploring the transformative role of technology and artificial intelligence (AI) in modern tax practices. Over four days, attendees participated in eight ninety-minute sessions led by industry experts, in-house technology pioneers, and leading… Read more »
In today’s fast-paced digital business environment, tax departments are under increased pressure to deliver accurate, timely, and compliant financial information. The complexity and the ever-evolving nature of tax regulations, coupled with the growing volume of data that organizations generate, present a significant challenge. Tax professionals must not only ensure compliance… Read more »
TEI’s Canadian Income Tax Committee (CITC) and Canadian Commodity Tax Committee (CCTC) held liaison meetings with the Canada Revenue Agency (CRA) and the Department of Finance Canada on November 19 and 20 in Ottawa. The meetings were well attended by members of the committees. Benjamin R. Shreck and Kelly Madigan,… Read more »
From December 9 to 12, TEI hosted its 2nd Annual Ethics CPE webinar series, offering tax professionals an opportunity to earn 2024 ethics credits while enhancing their understanding of critical ethical issues in the tax practice. The series featured seven one-hour webinars covering a range of topics, including privilege and… Read more »
From September 30 to November 20, TEI hosted its Federal Tax Course – Level 1 (Simulive Edition), a comprehensive virtual program designed to provide foundational knowledge and practical insights into federal taxation. Tailored for tax professionals with five or fewer years of experience or those seeking to refresh their skills,… Read more »
Editor’s note: This article was finalized prior to President Donald Trump’s imposition of tariffs on Canada, Mexico, and China. January marked the beginning of the 119th Congress and President Donald Trump’s return to the White House. With full Republican control of the legislative and executive branches of government, Republicans are…
Early this year, TEI sent out a survey to all its members worldwide regarding the implementation of base erosion and profit sharing (BEPS) 2.0 and Pillar Two. The survey asked participants to rate their preparedness, level of difficulty, and technology and staffing concerns in applying the rules/guidance. Although most respondents—just… Read more »
As anticipated, the new US presidential administration, under President Donald Trump, will aim to set in motion a set of policies—some familiar, some not as much—that could greatly affect in-house tax departments. Ahead of the US presidential election, the Tax Foundation broke down Trump’s tax proposals to evaluate the impact… Read more »
The US Treasury Department and Internal Revenue Service published new proposed regulations under Section 987 in December. The proposed regulations were accompanied by lengthy final regulations under Section 987, which incorporated several of TEI’s comments from the Institute’s submission regarding the 2023 proposed regulations. TEI is contemplating submitting comments on… Read more »
