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.

Hungary: Final tax package 2014

1 January 2014
As it was apparent from the proposal put forward in October that the volume of changes brought by the tax package of 2014 is altogether less significant than that of similar packages of the previous years.

Europe: Changes to Parent Subsidiary Directive

1 January 2014
On 25 November 2013, the European Commission proposed to amend the European Parent Subsidiary Directive (PSD). Corporate tax avoidance has been at the top of the political agenda of EU and non-EU countries alike for over a year. Likewise, the G20 as well as the G8 have emphasized the urgency of countering corporate tax avoidance.

Australia: Domestic ship and aircraft tax

1 January 2014
Australia’s domestic tax law imposes a 5% tax on amounts paid to foreign owners or charterers of ships or aircraft for the carriage of passengers, live-stock, mail or goods shipped in Australia (section 129 of the Income Tax Assessment Act, 1936). Section 129 can apply irrespective of where the passengers or goods are discharged.

Hong Kong: Inland Revenue Amendment Bill – Exchange of Information (EOI)

1 January 2014
The Inland Revenue (Amendment) Bill (the Bill) was passed by the Legislative Council on 10 July 2013. It provides the legal framework to liberalise the Exchange of Information (EOI) regime in Hong Kong and enable Hong Kong to comply with the latest international standard of tax transparency. Difference between CDTAs and TIEAs

USA: Interest-Charge Domestic International Sales Corporations

1 January 2014
An interest-charge domestic international sales corporation (IC-DISC) can be a powerful tax savings opportunity for many companies exporting products. An IC-DISC is a domestic corporation that primarily engages in foreign sales and exporting activity. Many years ago, the U.S. government created this law as a means to promote U.S.

Issue 18 - RSM Reporting

1 January 2014
This eighteenth edition features:

Republic of Ireland: An Update

1 January 2014
1. General economic update

Issue 17 - RSM Reporting

1 September 2013
This seventeenth edition features:

Peru: Tax Benefit with 'technical assistance'

1 August 2013
According to the general rule in Peruvian Income Tax (IT) Law, services rendered by non-resident individuals are subject to a 30% withholding income tax (WHT) rate. However, services that qualify as ‘technical assistance’ are levied with a 15% WHT rate applied on the Peruvian source income.

USA: Withholding under US FATCA rules delayed

1 August 2013
On 12 July 2013, the IRS issued Notice 2013-43 (the notice) that extends the date on which Foreign Account Tax Compliance Act (FATCA) withholding is to begin to 1 July 2014.

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