Tag Archive for tax question of the week

Tax Professionals – Tax Question Of The Week

Each Friday we publish a tax question from one of our site visitors who arrive from more than 190 countries and territories around the globe. This week we have an interesting question for our tax professional members with international experience.

“We are a trading company located in Bahrain. Most of our purchases are from UAE and payments via Telex Transfer. After implementation of TAX in UAE, suppliers are adding 5% Tax in our invoice and we are forced to include this amount in TT.

We cannot charge this money to our customers because we are not in UAE. Are we considered as the end user in UAE TAX LAW? Is there is any chance of exemption?”
Please provide your comments below to the CEO who seeks the help of our tax professional members. We greatly appreciate your insight.
Written by | Posted in Tax Question Of Week • TaxConnections

Tax Question Of The Week: Who Knows The Answer?

During the final stages of an IRS Appeals Level of an OIC, I then received an audit for my 2015 corporate tax return. My personal side was settled and a figure agreed upon( took two years to get to this status). My question is “Does this mean that my OIC already negotiated will have to withdrawn?”

Is the OIC withdrawn automatically in Appeals? Are the Auditors attempting to take away the negotiated OIC and I have no choice in the matter? Is there any part of the code section that would tell me how this is handled. I am unable to find it and the lawyer representing me is unable to find any code section to protect an already negotiated OIC settlement.

Read More

Written by | Posted in TaxConnections