All GLG News Analyses Filed Under: Tax Issues

In India the Authority for Advance Rulings (Authority) issues rulings on points of law and fact which play a role in determining the tax payers’ liability to tax with respect to a transaction or proposed transaction. The rulings are binding on the applicant and the income tax authorities. In a recent...

General Motors (GM) made headlines last week when the company announced a large $39 billion charge to establish a full valuation allowance for its deferred tax assets in the U.S., as well as Canada and Germany. Given the considerable attention by the media and multiple questions I’ve received regarding...

Investors fled General Motors following the release of its Q3 results.  The reported loss for the quarter was $38.96 billion of which 99% of the loss ($38.6 billion) resulted from the write-down of deferred tax assets.  Have investors overreacted to the noncash charge or is the decline in...

The  plethora  of  Double Tax  Avoidance Treaties (DTAA) which  the  US  has  with  various countries  are  meant to  lubricate the wheels of  international commerce  for  US  Companies. The Indian government has now decided ...

In the pivotal Textron case[1]the court held that requested tax accrual workpapers are protected by the work product privilege and are therefore not discoverable by the IRS in their audits due their “non-factual” status. As a result, any IRS "dragnet" must be based on "just the facts" as the court succinctly...

The increased disclosures required by FIN 48 are clearly uncovering some notable “red flags” and could potentially result in material cash ramifications for certain companies. As a result, I believe the new standard is an important one for investors to understand and assess for potential risks on companies...

A recent article in the WSJ discusses that a subcommittee of the U.S. Senate is probing at least 30 companies regarding past tax-cutting transactions – with the author commenting the investigation appears to have been sparked by the new accounting rule known as FIN 48. Three companies are specifically...

PE Firms are under scrutiny for a barrage of reasons.  Now, Congress is reviewing how the entities are taxed.  Many feel that PE firms have an unfair advantage by being taxed at the 15% long-term tax rates used for investments, which is unfair since the fees generated are short-term in nature...

One month after the new fiscal reform was submitted to Congress, the debate has centered on changes to the flat tax (CETU) that will eventually substitute the revenue-based tax regime. Business organizations are lobbying to reduce the CETU from 19 percent to 12 percent. Ironically, the key...

The actual situation of the M&A market becomes more and more diffiuclt for industrial players as the advantages and term investment of PE firms are completly disconnected from the reality. Based on their actual tax rate the PE firm can pay more betting on the selling price Financial stability is...