RSM Global

Financial services

Accounting standards. Industry regulations. Ever-evolving tax rules. New legislation.

With experience of supporting the financial services community in key financial hubs, across the network, we help organisations navigate complex reporting, governance and regulatory issues to achieve their business objectives.

Europe: The Mini One Stop Shop for e-services, broadcasting and telecom services

1 September 2014
In January 2015 the VAT legislation providing for the place of taxation for e-services, broadcasting and telecom services will change. Although the actual change in legislation will be minimal, it will have a substantial impact on the providers of these services from a VAT compliance perspective.

Issue 20 - RSM Reporting

17 July 2014
This twentieth edition features: Our experts in UAE Baasab B. Deyb discusses insurance law - the journey so far and the way forward Martyn Jones, President of the ICAEW Discusses how to restore trust in the accounting and auditing profession globally

Issue 19 - RSM Reporting

15 May 2014
This nineteenth edition features:

Australia: Company PE Income may not be exempt from tax

1 April 2014
Australia’s tax law exempts from tax foreign income derived by a company “in carrying on a business, at or through a permanent establishment (“PE”)”. Capital gains are also exempt from tax where “the company used the asset wholly or mainly for the purpose of producing foreign income in carrying on a business at or through a PE”.

New Zealand: Tax Risk and IRD Compliance for Multinationals

1 April 2014
In late 2013, the IRD released their Multinational Enterprises Compliance Focus Document. This document outlines the various areas the IRD will be focusing on for the next 12 months with regards to multinational enterprises (MNEs). This article summarises the must read sections of the document.

US / Canada: Investing in Canadian ULCs by US LLCs

1 April 2014
For many years, the US-Canada Income tax treaty (the “Treaty”) did not grant treaty benefits to US Limited Liability Companies (“US LLCs”) because, in the view of the Canadian government, LLCs were not US tax residents since they are typically exempt from US tax1.

Israel: Changes in Taxation of a Controlled Foreign Corporation

1 April 2014
On 25 December 2013, the Amendment of the Income Tax Ordinance Law (the “Law”) was published. As part of the Law, significant changes were made to some of the provisions of Section 75B of the Income Tax Ordinance (the “Ordinance”), dealing with the taxation of a controlled foreign corporation (the “CFC”).

Europe: How European VAT impacts US companies

1 April 2014
When US companies deal with value added tax “VAT” challenges in Europe, whether newly established or well established, they often fall into the same avoidable traps.

An Introduction to Islamic Finance

1 March 2014
Islamic finance is an emergent series of financial products that have been developed to meet the requirements and constraints of people that would like to follow the Shari’ah law. Islamic finance is a term that reflects financial business that is not contradictory to the principles of Shari’ah.

The Mini-Bond Market in Italy

1 February 2014
The Italian economy was severely affected by the deepest recession since the Second World War. Amid a fiscal consolidation programme to reduce the country’s debt, Italy continues its quest to rekindle GDP growth.

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