Base Erosion and Profit Shifting: The State Aid Controversy

The Organization for Economic Cooperation and Development (OECD) is a forum where governments discuss social and economic policy, including guidelines for the coordination of various tax laws across the organization’s member jurisdictions. The United States has the highest corporate tax rate among the 35 members of the OECD. The United States is also the only…

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The China VIE Structure is Vulnerable – So Why is it Still Used?

The accounting definition of “variable interest entity” (VIE) means an entity in which an investor holds a controlling interest that is not based on owning the majority of voting rights.  To non-accountants, the VIE structure is a business structure that is widely used by Chinese companies in certain “sensitive” or “strategic” business sectors that have…

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It’s Time to Offer a Toast to Your Beautician

Get your champagne flutes ready, as it seems California Assembly Bill 1322 (AB 1322) looks ripe and ready to be passed. AB 1322 aims to amend current law to allow beauty salons and barber shops to serve their clients limited quantities of beer or wine at no extra charge without obtaining a license or permit…

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Beware of Slackers in Packaging

Laws prohibiting “nonfunctional slack-fill” in food and other packaging have been on the books for years, but have gone largely unnoticed. Recently, however, plaintiffs’ attorneys and district attorneys have brought the issue to prominence by initiating numerous lawsuits against manufacturers of various consumer products, including food and beverages. Thus, any food and beverage producer should…

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