In this section, we provide a summary of brief updates from the previous quarter on legislative, judicial, and administrative developments in tax that may impact Japanese companies operating in the United States.
Expiring nexus and withholding relief in multiple states (COVID-19)
August 2, 2021
Working arrangements in many businesses shifted from "in the office" to "work from home" (or other locations) in response to the coronavirus (COVID-19) pandemic.
Treaty claims and Form W-8BEN-E
July 28, 2021
One of the most frequent questions is what makes for a valid claim of treaty benefits on the Form W-8BEN-E. The answer will vary depending upon the type of income.
Delaware: New unclaimed property enforcement provisions are enacted
July 2, 2021
The governor on June 30, 2921, signed into law Senate Bill 104—legislation that significantly modifies certain aspects of the Delaware unclaimed property audit and voluntary disclosure agreement (VDA) programs.
OECD/G20 Inclusive Framework agreement on BEPS 2.0
July 2, 2021
On July 1, 2021, in a historic agreement, 130 countries approved a statement providing a framework for reform of the international tax rules. These countries are members of the OECD/G20 Inclusive Framework on BEPS (IF), comprising 139 countries. The statement sets forth the key terms for an agreement of a two-pillar approach to reforms and calls for a comprehensive agreement by the October 2021 G20 Finance Ministers and Central Bank Governors meeting, with changes coming into effect in 2023.
Permanent establishment-related considerations, employees working remotely
June 14, 2021
As companies evaluate whether to bring employees back into offices once the global pandemic is under control, they will need more than ever to give more thought to permanent establishment (PE) issues created by a remote workforce.
Planning in advance for Biden Administration’s proposed increased tax rates
June 14, 2021
Companies anticipating the possibility of higher tax rates may need to consider "reverse" planning—accelerating income and deferring deductions through accounting method changes, elections, and transactional planning.
For more information, please contact:
Tai Kimura | +1 408 367 2204 | tkimura@kpmg.com