Category: Verizon

Verdict corner: DTAA or domestic law?

Retrospective amendments to domestic laws cannot override international treaties In a judgment that will have a far-reaching impact on double taxation issues, the Delhi High Court has held that Parliament cannot change the terms of an international treaty by bringing in amendments in the domestic law, and any such executive… – Continue reading

‘Unavoidable’ Netflix Tax enters Parliament

Australian Treasurer Scott Morrison says overseas companies selling digital products to Australians will not be able to avoid paying the GST. The so-called Netflix Tax that would see overseas-based businesses selling digital products to Australians collect 10 percent GST has entered the House of Representatives. Introduced by Treasurer Scott Morrison,… – Continue reading

Kelly Conklin: Wal-Mart’s tax shelter is bad for small businesses

Recent revelations that Wal-Mart, the world’s biggest corporation, is maintaining secret subsidiaries in well-known offshore tax havens are outrageous but far from surprising to small business owners. That’s because we’re used to seeing large corporations abuse the tax system in ways that hurt our businesses, communities and families. Wal-Mart’s hidden… – Continue reading

Walmart’s tax havens hurt small businesses

Recent revelations that Walmart, the world’s biggest corporation, is maintaining secret subsidiaries in well-known offshore tax havens are outrageous but far from surprising to small business owners. That’s because we’re used to seeing large corporations abuse the tax system in ways that hurt our businesses, communities and families. Walmart’s hidden… – Continue reading

Candidates’ plans to repatriate profits only encourage corporate tax avoiders

The last time the US tried repatriation – in 2004 – companies took the tax breaks and fired American workers. Better to close loopholes and invest in infrastructure If you had a spoiled 10-year-old at home who you found rifling through your wallet, what would you do? Would you spank… – Continue reading

For American Firms, Many US Cities Now Make Attractive Alternatives to Offshoring For Corporate Finance

Many mid-size U.S. cities and other areas now make attractive alternatives to India and other offshore locations for companies considering consolidating finance, IT, and other business services operations for shared service or global business services centers, according to new research from The Hackett Group, Inc. The diminishing gap in labor… – Continue reading

Offshored jobs returning to mid-size U.S. cities

Verizon consolidated nearly 1,500 finance operations staff from more than 300 U.S. locations into service centers in Lake Mary, Fla., and Tulsa, Okla., indicative of a trend among companies placing business service operations in mid-size U.S. cities rather than offshore locations such as India, according to a new report. The… – Continue reading

Financial Function Slowly Returns to the U.S.

After a decade of “offshoring,” financial executives are making the decision to bring some work home. Cities like Hyderabad and Bangalore being replaced with more familiar names like Syracuse and Jacksonville as more companies bring finance jobs back to the states after a decade of “offshoring.” Mid-size U.S. cities are… – Continue reading

Corporate giants often get huge tax breaks, while poor, undocumented immigrants have paid billions in state taxes

Ben Franklin’s famous dictum, “Nothing is certain except death and taxes” is crying out for an urgent revision. Why? Because even if still holds true for people like you and me, it has little to do with some of the country’s richest corporations. The truth is that for corporate giants… – Continue reading

Bernie Sanders attacks Business Roundtable, offshore tax havens

Sen. Bernard Sanders took aim at some of America’s biggest corporations Wednesday in his crusade to raise taxes on the wealthy, accusing the companies of “legalized tax fraud” for using off-shore banks to avoid U.S. taxes. Mr. Sanders, the ranking member on the Senate Banking Committee, released a report that… – Continue reading

US Corporate Giants Pay More to CEOs than in Federal Taxes

Seven of the biggest U.S. corporations received billions of dollars in tax refunds from the Internal Revenue Service, while dolling out an average of US$17.3 million to CEOs. While Congress is set to renew a slew of corporate tax breaks, new research published Tuesday found some of United States’ biggest… – Continue reading