
Finally final: The US Section 987 FX regs
Doug McHoney and Rebecca Lee discuss the long-awaited final and proposed regulations under Section 987, which deal with foreign currency gain or loss for qualified business units (QBUs).
In today's ever-evolving regulatory landscape, managing indirect tax-related requirements is becoming more challenging. Tax departments are now expected to accomplish more with limited resources, while each entity within a company may face unique impacts.
Indirect tax can be particularly demanding due to its data-intensive nature, surpassing even income tax in terms of complexity. Companies often find themselves analyzing thousands or even millions of transactions on a monthly basis. Moreover, they must navigate complex reporting obligations that can differ from country to country, state to state, or even county to county.
PwC’s specialists bring strategic thinking, deep tax knowledge, leading technologies and managed services to help you with identifying and exploring indirect tax opportunities, such as value-added tax (VAT), sales and use tax, excise tax, indirect tax operations and property tax, providing you with the solutions needed to optimize your tax management plans.
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Indirect Tax Edge is a single solution, accessed through PwC's compliance services, to manage complexities and reduce the burden of sales and use tax compliance and reporting.
Doug McHoney and Rebecca Lee discuss the long-awaited final and proposed regulations under Section 987, which deal with foreign currency gain or loss for qualified business units (QBUs).
Qualifying, affected individuals and businesses may benefit from tax relief as a result of the recent fires in Los Angeles.
In this edition, our spotlight article is on California, addressing disaster relief, Gov. Newsom's proposed budget, and updates on the proposed sourcing regulations.
The Los Angeles City Business Tax for the 2025 annual filing is due on February 28, 2025, with extensions available for certain businesses impacted by wildfires.