International financial reporting standards…tax treaties…market trends…While these are only a few common challenges facing most companies doing business abroad, there are a myriad of other complex issues specific to each country, industry and transaction type.
While the largest companies are served by equally large professional services firms, today’s mid-tier businesses often find it challenging to get the right mix of services, professional advice and responsiveness. Assistance with cross-border financial reporting, tax planning and compliance, as well as consulting represent service needs that even small businesses seek to meet their business objectives.
To help today's global mid-tier companies address these issues and more, both UHY Advisors and UHY LLP, along with independent UHY International member firms operating in more than 75 countries, work together to meet the evolving demands for capabilities virtually anywhere in the world.
To inquire about our international capabilities and service offerings, please contact us.
Michigan's personal property tax reform continues Jan. 1, 2016, with the most significant changes for taxpayers with eligible manufacturing property.
As of Dec. 31, 2015, the General Property Tax Act provides an exemption from tax for qualified new personal property and qualified previously existing personal property for eligible manufacturing personal property (EMPP). EMPP is defined as "...all personal property located on occupied real property if that personal property is predominantly (greater than 50 percent) used in industrial processing or direct integrated support."
The US Senate approved legislation, which the House already passed, to extend for one year more than 50 tax provisions that had expired at the end of 2013. The pending retroactive enactment of this legislation will impact the 2014 taxes for many individuals and businesses.
As the US and Europe continue their economic recovery (albeit slowly), this time around, OEMs (Original Equipment Manufacturers) want to have more insight into their supplier relationships.
The USA enjoys some of the lowest gasoline pump prices among the major world economies, according to a new study by UHY, the international accountancy network. UHY explains that the USA has an extremely low tax rate on fuel, levying just 13% on gasoline and 12% on diesel, considerably less than many other major developed economies, in particular European countries.
What are disruptive technologies, you ask? The term was first used by Harvard Business School professor Clayton M. Christensen to describe a new technology that unexpectedly displaces an established technology. In his book, The Innovator's Dilemma, Christensen separates new technology into two categories: sustaining and disruptive. Sustaining technologies are based on incremental improvements to an established technology, whereas, disruptive technologies can be defined as "simple, convenient-to-use innovations that initially are used by only unsophisticated customers at the low end of markets". Christensen has stated that large companies tend not to pay attention to these disruptive technologies because they don't satisfy the demands of high-end users - at least, not at first.