Deloitte tax news

Here are some recent tax news and updates from Deloitte:

Global Tax News

  1. OECD's Global Anti-Base Erosion (GloBE) Proposal: Deloitte has published a detailed analysis of the OECD's GloBE proposal, which aims to address base erosion and profit shifting (BEPS) by multinational enterprises (MNEs).
  2. US Tax Reform: Deloitte has provided updates on the Tax Cuts and Jobs Act (TCJA), including the impact on international taxation, pass-through entities, and individual taxpayers.
  3. Brexit and Tax: Deloitte has published guidance on the potential tax implications of Brexit, including the impact on VAT, customs duties, and international taxation.

Country-Specific Tax News

  1. US: Deloitte has published updates on the following US tax developments:
    • Section 199A: The deduction for qualified business income (QBI) under Section 199A of the Internal Revenue Code.
    • Foreign Tax Credit: The foreign tax credit rules under Section 901 of the Internal Revenue Code.
    • State and Local Tax (SALT) Cap: The limitation on state and local tax deductions under Section 164 of the Internal Revenue Code.
  2. UK: Deloitte has published updates on the following UK tax developments:
    • Making Tax Digital: The UK government's plan to digitize the tax system, including the introduction of Making Tax Digital for VAT and Income Tax.
    • IR35: The UK government's changes to the IR35 rules, which affect the taxation of off-payroll workers.
  3. Australia: Deloitte has published updates on the following Australian tax developments:
    • GST: The Australian government's changes to the Goods and Services Tax (GST) system, including the introduction of a GST-free threshold for low-value imports.
    • Superannuation: The Australian government's changes to the superannuation system, including the introduction of a low-income superannuation tax offset.

Industry-Specific Tax News

  1. Financial Services: Deloitte has published updates on the following financial services tax developments:
    • Banking and Capital Markets: The impact of tax reform on the banking and capital markets industries.
    • Insurance: The impact of tax reform on the insurance industry, including changes to the taxation of insurance premiums and benefits.
  2. Technology and Life Sciences: Deloitte has published updates on the following technology and life sciences tax developments:
    • Research and Development (R&D) Tax Credits: The R&D tax credit rules and their application to technology and life sciences companies.
    • Digital Taxation: The impact of digital taxation on technology and life sciences companies, including the introduction of digital services taxes.

These are just a few examples of the tax news and updates published by Deloitte. You can visit their website to access more information on these topics and other tax-related issues.