Talking Tax podcast

Tax Deal Needs Buy-In From Developing Nations

0:00
9:27
Recuar 15 segundos
Avançar 15 segundos
After years of negotiations led by the Organization for Economic Cooperation and Development, more than 130 jurisdictions backed a deal last month to overhaul how and where multinational companies are taxed. Now countries are gearing up to implement a deal that will reallocate the profits of some of the world's largest companies and set a 15% minimum global tax rate. For the deal to succeed, it will need the support of not just the world's biggest economies but also from developing nations. And that may require politicians in these countries to be willing to nix existing tax treaties with their neighbors that violate the new deal's tenets. That's according to Mary Baine, director of tax projects at the African Tax Administration Forum, an intergovernmental organization that coordinates tax policy across the continent. She spoke to Bloomberg Tax’s Hamza Ali for our weekly podcast Talking Tax about what developing countries countries will need to do to get ready for the new rules over the next two years. Have feedback on this episode of Talking Tax? Give us a call and leave a voicemail at 703-341-3690.

Mais episódios de "Talking Tax"

  • Talking Tax podcast

    Kevin Brady Has Big Plans for Last Year in Congress

    21:14

    Kevin Brady, the top Republican on the powerful House Ways and Means Committee, is planning one final legislative push before he retires at the end of this Congress. During the Trump administration, the Texan was instrumental in shepherding the Republican-led 2017 tax law and working across the aisle on a retirement policy overhaul. An outspoken fan of the Houston Astros, Brady has also been a longtime cornerstone for the GOP in the annual Congressional Baseball Game. On the latest episode of our weekly Talking Tax podcast, Brady discusses his impending retirement, the legislation he hopes to advance before he leaves, and his thoughts on how to make the IRS more customer friendly. Do you have feedback on this episode of Talking Tax? Give us a call and leave a voicemail at 703-341-3690.
  • Talking Tax podcast

    Poor IRS Phone Service Among Many Tax Season Hurdles

    13:52

    Tax preparers are bracing for another frustrating filing season as the IRS warns of unprecedented challenges driven by the pandemic and staffing shortages. The IRS is facing some major issues ahead of the Jan. 24 launch of tax season. The agency entered the new year with millions of unprocessed paper tax returns and has long struggled to keep up with a deluge of phone calls from people and tax pros looking for assistance. National Taxpayer Advocate Erin Collins recently described the agency's telephone service as "the worst it has ever been." The IRS only answered about 11% of the 282 million phone calls it received in fiscal 2021—and those who did get through spent more time than ever on hold. St. Louis-based tax practitioner Jan Roberg is the guest on the latest episode of our weekly Talking Tax podcast. Roberg speaks with Bloomberg Tax reporter Kaustuv Basu about the upcoming tax filing season, offers advice to taxpayers on how to best communicate with the IRS, and shares thoughts on what Congress can do to improve the agency's customer service. Have feedback on this episode of Talking Tax? Give us a call and leave a voicemail at 703-341-3690
  • Talking Tax podcast

    Não percas um episódio de Talking Tax e subscrevê-lo na aplicação GetPodcast.

    iOS buttonAndroid button
  • Talking Tax podcast

    'Great Resignation' Hitting Accounting Industry Hard

    12:01

    A severe talent shortage caused by the "Great Resignation" will be the most important issue affecting accounting work in 2022, according to three senior accountants. Labor shortages, along with a loss of institutional knowledge, will cause problems not only at the firms accountants are auditing, but within the accounting firms themselves. Given how widespread this phenomenon is across different sectors, it's a problem that can't necessarily be solved with higher salaries and bonuses. On today's Talking Tax podcast, Bloomberg Tax's Amanda Iacone speaks with three accountants about what they expect will be driving their profession in 2022. In addition to the Great Resignation, they also talk about complying with new sustainability reporting rules and the prospect of new rules coming from the Financial Accounting Standards Board. Have feedback on this episode of Talking Tax? Give us a call and leave a voicemail at 703-341-3690
  • Talking Tax podcast

    What's In Store for IRS 2022 Enforcement Agenda

    11:46

    Tax pros are keeping a close eye on Capitol Hill negotiations, with the Internal Revenue Service's 2022 enforcement agenda dependent on how much money Congress gives it to do the job. The Biden administration wants to give the IRS a funding increase for fiscal 2022, plus an additional $80 billion in funding over a decade as part of its stalled tax and social spending package. The goal: give the agency extra resources so it can more aggressively crack down on tax evasion. On today's episode of weekly Talking Tax podcast, two tax enforcement professionals discuss what the new year may have in store at the IRS' enforcement arm. Michelle Levin, a shareholder at Dentons, and Alina Solodchikova, a principal at RSM US, talk about where they think the agency's enforcement targets will be—everything from microcaptive insurance and conservation easements to cryptocurrency. Have feedback on this episode of Talking Tax? Give us a call and leave a voicemail at 703-341-3690
  • Talking Tax podcast

    Diversifying Tax Proving Much Harder Than Expected

    20:09

    Corporate tax departments and accounting firms haven't had much success in diversifying their workforce in recent years, a recent Bloomberg Tax survey shows. The survey data show that while corporate tax departments have seen an increase in the number of female managers over the past four years, overall the tax industry's race and gender demographics still aren't representative of the general population when it comes to high-level jobs. On today’s episode of our weekly podcast, Talking Tax, we speak with Katrina Welch, North America director of tax at Gordon Food Service, and Melinda Phelan, a partner at Baker & McKenzie LLP. Welch and Phelan speak with reporter David Hood about the survey and explain why even when senior leaders are committed to diversity and inclusion, actual change may take time and better strategies. Have feedback on this episode of Talking Tax? Give us a call and leave a voicemail at 703-341-3690.
  • Talking Tax podcast

    Crypto Exchanges Enlisted by IRS as Ally in Tax Fight

    13:54

    Cryptocurrencies had a big year in 2021, with the asset class drawing in over $2.2 trillion of value. However, these gains have drawn scrutiny from tax authorities. The U.S. in particular has made efforts in recent months to develop rules that would require cryptocurrency exchanges to track the activity of traders to assess their tax compliance. On today’s episode of our weekly podcast, Talking Tax, we hear from Sulolit "Raj" Mukherjee, head of tax for Binance U.S., the largest cryptocurrency exchange in the world. He talks to Bloomberg Tax's Hamza Ali about what the new rules mean for exchanges and the traders that use them. He also discusses the global effort by the OECD to harmonize reporting requirements for crypto exchanges worldwide. Have feedback on this episode of Talking Tax? Give us a call and leave a voicemail at 703-341-3690.
  • Talking Tax podcast

    Gun and Ammo Taxes on Shaky Constitutional Footing

    18:13

    Cities and counties have been using so-called "sin taxes" to disincentivize socially harmful behavior for many years. But can this principle be applied to gun violence? A few localities think it can and have passed their own excise taxes on guns and ammunition, even though the legal basis for these taxes may be unclear. One of them, Cook County, Ill., recently had its gun tax struck down by the Illinois Supreme Court as a violation of the constitution’s uniformity clause. The high court never reached a decision on whether Cook County’s tax constituted a direct violation of the right to “keep and bear arms” under the Second Amendment— an issue the plaintiff Guns Save Life still wants the court to answer. On today's episode of our weekly podcast, Talking Tax, we hear two perspectives on this: one from the gun rights attorney who sued Cook County, and another from an economist and gun control advocate. Bloomberg Tax's Michael Bologna spoke to Pete Patterson with the firm Cooper & Kirk about the status of the litigation, and also to Rosanna Smart, a RAND Corporation economist, who supports local gun control measures but questions the value of excise taxes as a strategy for addressing gun violence. Have feedback on this episode of Talking Tax? Give us a call and leave a voicemail at 703-341-3690. Everytown for Gun Safety advocates for universal background checks and other gun control measures. Bloomberg Law is operated by entities controlled by Michael Bloomberg, who serves as a member of Everytown for Gun Safety's advisory board.
  • Talking Tax podcast

    Crypto's Wild Swings Are Accountants' Nightmares

    18:37

    We're now at the stage where companies, not just individuals, are investing in cryptocurrencies. But that means that accountants have to find a way to quantify crypto's famously volatile price swings on their company's financial statements. There is no specific reference to crypto in U.S. financial accounting rules. But many investors, crypto fans, and even companies themselves want accounting rulemakers to change this—and there are signs the accounting standard-setters may be listening. On this week’s podcast Talking Tax, Bloomberg Tax's Nicola M. White hears from Vivian Fang, accounting professor at the Carlson School of Management at the University of Minnesota. Fang discusses why investors care about the value of companies’ crypto assets and about what future crypto accounting rules might look like. Have feedback on this episode of Talking Tax? Give us a call and leave a voicemail at 703-341-3690.
  • Talking Tax podcast

    Unraveling a SPAC Is Harder Than It Seems

    10:42

    SPACs—Special Purpose Acquisition Companies or "blank check companies"—became a hot commodity in recent years. The speculative nature and promise of large gains has turned the practice into a major boon for Wall Street—that is, until the SEC announced some rule changes earlier this year that made executing a SPAC a lot more complicated. We have now reached the point where some of the SPACs launched during the boom times now need to be unraveled, creating all kinds of unique tax considerations. On this episode of our weekly podcast, Talking Tax, Jeff Leon speaks with Victor Hollender, a partner at Skadden in New York who has been advising clients on SPAC trends. He spoke about the "de-SPAC" process and where he sees the trend moving next. Have feedback on this episode of Talking Tax? Give us a call and leave a voicemail at 703-341-3690.
  • Talking Tax podcast

    Window Open for Tax Measures to Curb Climate Change

    16:40

    A landmark meeting on curbing climate change didn't do much to address the role that tax measures might play, but financial-climate consultants and academics still think they can contribute to reducing greenhouse gas emissions. The COP26 conference agreed on long-awaited rules for global emissions trading markets, one key form of carbon pricing meant to help provide financial incentives for reducing emissions. But carbon taxes—direct levies that increase the price of carbon fuels or the emissions that result from them—weren't dealt with in that agreement. And with the U.S. Congress also not taking action on carbon taxes, some advocates are concerned an opportunity to slow climate change with aggressive policies are falling out of reach. There are still ways taxes could make a difference in the climate arena, however. On this week's episode of Talking Tax, Frank Eich, an economist with U.K. consultancy CRU, spoke to Bloomberg Tax's Michael Rapoport about the COP26 developments and the future of carbon taxes. And Sanjay Patnaik, director of the Brookings Institution's Center on Regulations and Markets, spoke to Bloomberg Tax's David Hood about what's happening in the U.S. Have feedback on this episode of Talking Tax? Give us a call and leave a voicemail at 703-341-3690.

Descobre o mundo dos podcasts com a app gratuita GetPodcast.

Subscreve os teus podcasts preferidos, ouve episódios offline e obtém recomendações fantásticas.

iOS buttonAndroid button