HMRC has just announced that the second phase of Making Tax Digital for VAT (‘MTD’), initially scheduled for April 2020, has now been delayed one year and will come into effect on 1 April 2021.

As the U.S. looks to come back from what Warren Buffett described as a “big one-two punch” of a pandemic and collapsing oil prices, many industries are facing disruptions in business performance resulting in rapid and severe financial distress.

The Centers for Medicare & Medicaid Services (CMS) has expanded its current Accelerated and Advance Payment Program (AAPP) in order to increase cash flow to a broader group of Medicare Part A and Part B providers and suppliers impacted by the 2019 Novel Coronavirus (COVID-19) pandemic.

Prosecutors and regulators, both in the United States and abroad, have been increasingly making it clear that being “shocked” to learn of corporate misconduct by a rogue employee is no defense.

Late last night, the Senate unanimously passed the Phase 3 COVID-19 Bill (“Final Bill”). The Final Bill is 880 pages long and is largely based on the last Senate bill that was circulated last week. The Final Bill now moves to the House where it is expected to be passed tomorrow.

Lewis J. Greenwald joins as a Managing Director with more than 30 years’ experience in international tax matters and transfer pricing

The critical first step in the estimation of commercial damages requires identification of the asset that has suffered harm.

Perspective on a developing area of international law concerning governmental rights to impose tax and compliance obligations on remote providers of digital services, as published in Tax Notes Federal and Tax Notes International.

The final bill will reflect a compromise between the Senate’s Phase 3 bill and the House’s Phase 3 bill, so we highlighted some of the tax provisions included in the House Bill, as well as provisions of the Senate bill that are not included in the House Bill.

Faced with these conditions, executives will find little motivating value in their existing compensation programs. Annual bonus payouts will be reduced or eliminated by the negative economic climate, and LTIP awards will be handicapped at best, and in many cases, rendered completely worthless. The company may also be facing a restructuring or bankruptcy. Therefore, it is imperative that organizations find alternative methods to motivate and retain key executive talent.

The Senate Republicans released a revised draft (the “Revised Bill”) of their initial proposal (the “Original Proposal”) for the Phase 3 COVID-19 Bill yesterday.

On Friday 20th March 2020 the U.K. government made various announcements to support employers and their employees during the current COVID -19 crisis. We expect further announcements to be made imminently.  

On Friday 20th March 2020, we had the welcome announcement that the U.K. government would extend the time to make VAT payments due in the period from 20 March 2020 to 30 June 2020.