Article 23 of Brazilian Law No. 11.727 became effective on January 1, 2009 defining a “privileged fiscal regime” for transfer pricing purposes. The law defined privileged fiscal regime (“regime fiscal […]
https://fidjlaw.com/wp-content/uploads/2007/02/FIDJ-Logo-Hero.svg00admin_fidjhttps://fidjlaw.com/wp-content/uploads/2007/02/FIDJ-Logo-Hero.svgadmin_fidj2010-10-14 08:26:062026-01-06 09:40:56Brazilian Regulations List Delaware as a Tax Haven
The economic substance doctrine was codified on March 30, 2010 in IRC § 7701(o) providing that transactions shall be treated as having economic substance only if the transaction changes the taxpayer’s economic position in a meaningful way and the taxpayer has a substantial purpose for entering into the transaction.
https://fidjlaw.com/wp-content/uploads/2007/02/FIDJ-Logo-Hero.svg00admin_fidjhttps://fidjlaw.com/wp-content/uploads/2007/02/FIDJ-Logo-Hero.svgadmin_fidj2010-10-12 09:17:322026-01-07 14:25:14Codification of the Economic Substance Doctrine is Not a Change in Substantive Law
The Public Company Accounting Oversight Board (PCAOB) has announced rule changes that could bar audit firms based outside the United States from auditing U.S. companies.
https://fidjlaw.com/wp-content/uploads/2007/02/FIDJ-Logo-Hero.svg00admin_fidjhttps://fidjlaw.com/wp-content/uploads/2007/02/FIDJ-Logo-Hero.svgadmin_fidj2010-10-11 09:54:202014-11-10 18:23:35“Oh yeah?!” PCAOB Bars Foreign Auditors which do not Allow Board Inspections
In its October 8, 2010 meeting, the AICPA’s Blue Ribbon Panel on Private Company Standard Setting reported that it plans to recommend that the Financial Accounting Foundation (FAF) adopt a new standard-setting model that follows Generally Accepted Accounting Practices (GAAP) with exceptions for private companies. The Panel also recommended that these accounting standards should be set by a separate board under the watchful eye of the FAF and not FASB, the FAF’s parent organization.
https://fidjlaw.com/wp-content/uploads/2007/02/FIDJ-Logo-Hero.svg00admin_fidjhttps://fidjlaw.com/wp-content/uploads/2007/02/FIDJ-Logo-Hero.svgadmin_fidj2010-10-11 09:48:272014-11-10 18:23:35Separate but Equal – AICPA Panel Recommends a Separate Board to Establish Private Company Accounting Standards
https://fidjlaw.com/wp-content/uploads/2007/02/FIDJ-Logo-Hero.svg00admin_fidjhttps://fidjlaw.com/wp-content/uploads/2007/02/FIDJ-Logo-Hero.svgadmin_fidj2010-10-07 09:20:562014-11-10 18:23:36Nestle Announces Creation of Food Sciences Institute In Wake Of Federal Trade Commission Settlement
On September 27, 2010, President Obama signed into law the Small Business Lending Act which contains a new anti-fraud provision that will significantly change how the Center for Medicare and Medicaid Services (“CMS”) bills for services. Under the new provision, CMS will be required to end its 45 year policy of approving claims quickly without first verifying that the services were actually provided and that the claims submitted are not the product of fraud.
https://fidjlaw.com/wp-content/uploads/2007/02/FIDJ-Logo-Hero.svg00admin_fidjhttps://fidjlaw.com/wp-content/uploads/2007/02/FIDJ-Logo-Hero.svgadmin_fidj2010-10-05 09:45:552014-11-10 18:23:36Medicare To Implement New Billing Procedures, Proposes New Regulations To Combat Fraud
On September 28, 2010, the Office of Foreign Assets Control (“OFAC”) of the United States Department of the Treasury issued new regulations amending the Iranian Transactions Regulations, (“ITR”), of the […]
https://fidjlaw.com/wp-content/uploads/2007/02/FIDJ-Logo-Hero.svg00admin_fidjhttps://fidjlaw.com/wp-content/uploads/2007/02/FIDJ-Logo-Hero.svgadmin_fidj2010-09-30 12:48:462014-11-10 18:23:36US Department Of The Treasury Continues Its Implementation Of Tougher Sanctions Against Iran
On September 27, 2010, the Financial Crimes Enforcement Network (“FinCEN), of the U.S. Department of the Treasury, issued a notice of proposed rulemaking for publication in the Federal Register. The […]
https://fidjlaw.com/wp-content/uploads/2007/02/FIDJ-Logo-Hero.svg00admin_fidjhttps://fidjlaw.com/wp-content/uploads/2007/02/FIDJ-Logo-Hero.svgadmin_fidj2010-09-30 12:47:492025-12-09 13:38:12FinCEN Proposes Reporting Regulations For Cross-Border Electronic Transmittals Of Funds By Financial Institutions
Preservation of First Sale Doctrine Seen as Victory for Importers U.S. Customs and Border Protection (CBP) published a notice in the Federal Register today formally withdrawing its proposed rule to […]
POM Wonderful LLC (“POM”) filed a Complaint against the Federal Trade Commission (“FTC”) on September 13, 2010. POM alleges that the FTC has adopted a “new standard” for substantiation that […]
https://fidjlaw.com/wp-content/uploads/2007/02/FIDJ-Logo-Hero.svg00admin_fidjhttps://fidjlaw.com/wp-content/uploads/2007/02/FIDJ-Logo-Hero.svgadmin_fidj2010-09-24 14:33:272014-11-10 18:23:36POM Sues FTC over New Substantiation Standard for Food and Dietary Supplement Claims
Brazilian Regulations List Delaware as a Tax Haven
Article 23 of Brazilian Law No. 11.727 became effective on January 1, 2009 defining a “privileged fiscal regime” for transfer pricing purposes. The law defined privileged fiscal regime (“regime fiscal […]
Codification of the Economic Substance Doctrine is Not a Change in Substantive Law
The economic substance doctrine was codified on March 30, 2010 in IRC § 7701(o) providing that transactions shall be treated as having economic substance only if the transaction changes the taxpayer’s economic position in a meaningful way and the taxpayer has a substantial purpose for entering into the transaction.
“Oh yeah?!” PCAOB Bars Foreign Auditors which do not Allow Board Inspections
The Public Company Accounting Oversight Board (PCAOB) has announced rule changes that could bar audit firms based outside the United States from auditing U.S. companies.
Separate but Equal – AICPA Panel Recommends a Separate Board to Establish Private Company Accounting Standards
In its October 8, 2010 meeting, the AICPA’s Blue Ribbon Panel on Private Company Standard Setting reported that it plans to recommend that the Financial Accounting Foundation (FAF) adopt a new standard-setting model that follows Generally Accepted Accounting Practices (GAAP) with exceptions for private companies. The Panel also recommended that these accounting standards should be set by a separate board under the watchful eye of the FAF and not FASB, the FAF’s parent organization.
Nestle Announces Creation of Food Sciences Institute In Wake Of Federal Trade Commission Settlement
On September 27, 2010, Nestle, S.A., (“Nestle”), announced the creation of Nestle Heath Science, S.A., a new wholly owned subsidiary, and the Nestle Institute of Health Sciences in an effort to better understand the role of foods in disease prevention. Nestlé’s announcement comes in the wake of its subsidiary, Nestle HealthCare Nutrition, Inc. (“Nestle HealthCare”), recent settlement with the Federal Trade Commission, (“FTC”), regarding the substantiation of its health related claims for its product BOOST Kid Essentials (“BOOST”), a children’s drink that contains probiotics, beneficial bacteria that are found in food and known for aiding digestion and fighting harmful bacteria.
Medicare To Implement New Billing Procedures, Proposes New Regulations To Combat Fraud
On September 27, 2010, President Obama signed into law the Small Business Lending Act which contains a new anti-fraud provision that will significantly change how the Center for Medicare and Medicaid Services (“CMS”) bills for services. Under the new provision, CMS will be required to end its 45 year policy of approving claims quickly without first verifying that the services were actually provided and that the claims submitted are not the product of fraud.
US Department Of The Treasury Continues Its Implementation Of Tougher Sanctions Against Iran
On September 28, 2010, the Office of Foreign Assets Control (“OFAC”) of the United States Department of the Treasury issued new regulations amending the Iranian Transactions Regulations, (“ITR”), of the […]
FinCEN Proposes Reporting Regulations For Cross-Border Electronic Transmittals Of Funds By Financial Institutions
On September 27, 2010, the Financial Crimes Enforcement Network (“FinCEN), of the U.S. Department of the Treasury, issued a notice of proposed rulemaking for publication in the Federal Register. The […]
CBP Withdraws Proposed “Last Sale” Rule
Preservation of First Sale Doctrine Seen as Victory for Importers U.S. Customs and Border Protection (CBP) published a notice in the Federal Register today formally withdrawing its proposed rule to […]
POM Sues FTC over New Substantiation Standard for Food and Dietary Supplement Claims
POM Wonderful LLC (“POM”) filed a Complaint against the Federal Trade Commission (“FTC”) on September 13, 2010. POM alleges that the FTC has adopted a “new standard” for substantiation that […]