Rigorous compliance involving Section 44AB audits and navigating various assessment types like Scrutiny and Best Judgement. 2. International Taxation framework
Under the OBBBA, businesses can now expense domestic R&E costs immediately for tax years beginning after 2024, though some may still find capitalization (amortizing over 60 months or 10 years) more beneficial for managing interest deduction limits. advanced tax laws advanced tax laws and practice
New reporting requirements (such as IRS Form 1099-DA) for cryptocurrencies and stablecoins became effective January 1, 2025. Learning Materials - The Taxation Institute of Hong Kong New reporting requirements (such as IRS Form 1099-DA)
This report outlines the core components and current state of as of April 2026 . The field has been significantly reshaped by the One Big Beautiful Bill Act (OBBBA) , enacted in July 2025, which introduced major updates to corporate and individual tax frameworks. 1. Direct Taxation and Corporate Planning enacted in July 2025
A "side-by-side" system now exists for U.S. multinationals, exempting them from certain global minimum tax aspects while still requiring management of qualified domestic minimum top-up taxes (QDMTTs) in foreign jurisdictions. 3. Indirect Taxation & Procedural Compliance
Planning for mergers, acquisitions, slump sales, and buy-backs.