Tax Blog

Our tax blog is dedicated to CFOs, Tax Directors and Business Owners looking to improve profitability, grow their business or implement a succession plan. At Armanino, we see the tax function as a key strategic tool—as nothing less than a vital means of moving you and your company forward. While we excel in making sure our clients meet regulatory requirements—both domestic and global—that just scratches the surface of what we do.

August 18, 2020

Foreign Derived Deduction Eligible Income – Summarized Documentation Roadmap

Treasury released final FDII and GILTI regulations under Section 250, which simplified documentation requirements proposed in March 2019.

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July 20, 2020

India Passes 2% Equalization Levy and 6% Advertising Levy on Non-India-Based Sellers

Part of the Finance Act 2020 and effective April 1, this is a direct tax on non-India-based sellers.

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May 12, 2020

DAC6 Reporting Requirement for All Cross-Border Tax Arrangements Postponed

DAC6 is an EU Council Directive 2011/16 in relation to reporting requirements for all cross-border tax arrangements. It has been in force since June 25, 2018, promoting transparency and fairness in taxation. DAC6 applies to cross-border tax arrangements that meet one or more specified characteristics (hallmarks) and that concern either more than one EU country …

April 20, 2020

Revenue Procedure 2020-24 and International Tax Considerations

Background Coronavirus Aid, Relief and Economic Security Act (“CARES Act”) modified section 172 by adding a new section 172(b)(1)(D)(i) which provides that net operating losses (“NOL”) arising in tax years beginning after December 31, 2017, and before January 1, 2021 may be carried back to each of the five tax years preceding the taxable year …