On October 6, TEI submitted comments to the Organisation for Economic Co-operation and Development (OECD) and the European Commission regarding the GloBE Information Return (GIR) under Pillar Two of the OECD’s two-pillar approach to the tax challenges arising from the digitization of the economy. TEI’s comments focused on the volume… Read more »
2023 2023 Federal Tax Course – Level 1 (Simulive Edition) November 6–December 19 Virtual 2023 US International Tax Course (Simulive Edition November 8–January 17 virtual Tax Technology Webinar Series: Byte-Sized Essentials November 28–30 Virtual 2024 74th Midyear Conference March 17–20 Washington, DC Federal Tax Course –… Read more »
Kelvin Jeffrey Ramirez, CPA, president of TEI’s San Francisco Chapter and senior director of tax at Informatica, has a game plan for opening up communication and interaction within the chapter and beyond. “What’s top of mind is returning to in-person meetings. During COVID, we stayed in touch via Zoom, but…
The Ask the Expert column in this issue differs slightly from its usual form. Instead of posing a specific question to a tax expert, we decided to pose a series of questions to someone who has spent nearly his entire career as a tax professional. That expert, Lionel Nobre, has…
On September 13, TEI submitted comments to the Department of Finance Canada regarding proposed legislation that would implement an excessive interest and financing expenses limitation (EIFEL). TEI’s comments addressed the proposed implementation date of the EIFEL rules, the need to except existing debt obligations from the rules for a period… Read more »
On September 1, TEI submitted comments responding to the Organisation for Economic Co-operation and Development’s (OECD’s) public consultation document regarding Pillar One—Amount B. TEI recommended the OECD make Amount B an elective safe harbor for multinational enterprises, increase the scope of the definition of “distributor,” and enhance the mechanisms for… Read more »
On March 20, TEI submitted a letter to the Internal Revenue Service commenting on Notice 2023-7, which provides initial guidance on the new corporate alternative minimum tax (CAMT) imposed by the Inflation Reduction Act of 2022. TEI’s recommendations included the need for transition rules and penalty relief and adjustments to… Read more »
TEI also presented the President’s Award to Michael Bernard at TEI’s 73rd Midyear Conference. In his nomination of Bernard for the award, TEI’s international president, Wayne Monfries, detailed Bernard’s accomplishments as follows: In accordance with Tax Executives Institute’s award guidelines, I am pleased to nominate Michael (Mike) J. Bernard for… Read more »
For many reasons, organizations in diverse industries and sectors of the economy are becoming more cognizant of ESG (environmental, social, and governance) issues. We wanted to get a better handle on what’s happening in this arena and why tax departments should be interested, so we turned to Nancy Hawkins, vice…
The division of multistate business income among the states is accomplished through formulary apportionment. State formulary apportionment provisions increasingly rely on the receipts factor to divide income, sharpening the focus on the sourcing of receipts. Although many states have transitioned to a market-sourcing (also known as destination sourcing) approach, historically…
