Monday, June 29, 2020

Swiss tax law won’t change in response to blockchain, say lawmakers - Decrypt

Switzerland's Federal Department of Finance has decided that the rapid development of blockchain and corresponding financial instruments doesn't warrant changes to existing tax laws , as the country's existing legislation can accommodate the nascent technology.

According to a press release, the Swiss Federal Council first requested a report on the subject from the Department of Finance on December 7, 2018, to explore the potential impact of decentralized ledger technology (DLT) and blockchain on the country's economy.

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Publisher: Decrypt
Date: 2020-06-29T11:55:50
Author: Decrypt Liam Frost
Twitter: @decryptmedia
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INSIGHT: Saudi Arabia Revises Transfer Pricing Guidance (Part 1)

In Part 1 of this two-part series, Shiv Mahalingham draws on some of the key elements of the KSA Transfer Pricing Guidance (second edition) which will assist multinational enterprises operating in the region.

The General Authority of Zakat and Tax (GAZT) released the second edition of Transfer Pricing Guidance in May 2020 ( The Updated Guidance ). There are no surprises in this second edition; however, there are many helpful additions to/clarifications of the existing Transfer Pricing Bylaws .

Twitter: @tax
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IRS Prop. Reg.: Carbon Oxide Credit Corrections Made to Preamble (IRC §45Q)

Preamble for proposed regulations for carbon oxide credit corrected June 29.

Twitter: @tax
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Re: widening the tax net: is osinbajo's Executive Order correct? - Lexology

My learned colleague and ThisDay Lawyer columnist, Abubakar D. Sani, on 8 th August 2017 published a piece titled: “Widening the Tax Net: Is Osinbajo’s Executive Order Correct?” Though quite informative, yet it discredited the veracity of the Acting President’s signing of the Executive Order (EO) No.

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First, it must be established that the EO is a binding document which has the force of the law. Accordingly, the Black’s Law Dictionary 9 th Edition defines EO as “ An Order issued by or on behalf of the President, usually intended to direct or instruct the actions of executive agencies or government officials or to set policies for the Executive branch to follow.

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In case you are keeping track:

Opinion: Costly split-roll initiative won't deliver promised revenues

County assessors fairly and equitably administer California's complex property tax laws and regulations. We try to ignore the political consequences of our actions. Sometimes our assessments result in property tax increases. Other times, we lower property taxes to reflect declining real estate values.

As residents and taxpayers, we care about adequate funding for schools and local governments, as well as the adverse impacts higher taxes can have on businesses and residents. As property tax administrators, our duties require us to objectively oversee a complex system that involves tracking every parcel in our counties and ultimately leads to a property tax bill.

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Publisher: The Mercury News
Date: 2020-06-28T13:10:19 00:00
Twitter: @mercnews
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IRS Extends Tax Break for REIT Income to Regulated Investment Companies | Millionacres

Regulated investment companies (RICs) that receive dividends from real estate investment trusts (REITs) and pass that income on to shareholders can now claim those as section 199A dividends.

Here's how KPMG describes the tax break : "Section 199A provides taxpayers, other than corporations, a deduction of up to 20% of QBI from domestic businesses plus up to 20% of their combined qualified REIT dividends and qualified publicly traded partnership income."

Publisher: Millionacres
Date: 8D40D58712924715BAA79D135A6C8DDA
Twitter: @millionacres_co
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SVP, Tax Director - Amherst | Built In Austin

Amherst is revolutionizing the way U.S. real estate is priced, managed and financed in order to unlock opportunities for all market participants. Driven by data, analytics, and technology, Amherst has a 20-year history of anticipating where the next risks and opportunities are likely to emerge and designing actionable strategies for investors to capitalize on opportunities across residential real estate, commercial real estate and public securities.

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Competitive compensation and bonus program. Flexible PTO. Health, vision, dental and long term disability coverage. Paid maternity/paternity leave. Attractive office space. Training certifications assistance. Daily catered lunch and stocked kitchens. Monthly birthday celebrations. Casual work environment with regular team-building outings. Breakfast Taco Thursday.

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Herman Miller Reports Fourth Quarter Fiscal 2020 Results | State | iosconews.com

Herman Miller , Inc. (NASDAQ: MLHR) today announced results for its fourth quarter ended May 30, 2020. Net sales in the quarter totaled $475.7 million , a decrease of 29.1% from the same quarter last fiscal year. New orders in the fourth quarter of $535.3 million were 19.4% below the prior year level.

On an organic basis, which excludes the impact of acquisitions and foreign currency translation, net sales and orders in the fourth quarter decreased by 34.9% and 25.3%, respectively, compared to the same quarter last fiscal year.

Publisher: Iosco County News Herald
Author: Herman Miller Inc
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