World Wide Tax News - Issue 50

BDO World Wide Tax News summarises recent tax developments of international interest across the world. 

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Article

Pennsylvania Reforms Its Tax Appeals Process

December 13, 2024
Article

Pennsylvania Reforms Its Tax Appeals Process

December 13, 2024

On October 29, Pennsylvania enacted S.B. 1051 to make important changes to its tax administrative appeals process. Taxpayers with Pennsylvania tax appeals should consider the bill’s implications for their cases and consider new opportunities to resolve tax disputes.

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Article

Planning for 2025: Employee Benefit Plan Changes Taking Effect

December 13, 2024
Article

Planning for 2025: Employee Benefit Plan Changes Taking Effect

December 13, 2024

There are new employee benefit plan provisions taking effect in 2025 driven by existing laws such as the Employee Retirement Income Security Act of 1974 (ERISA) and the Setting Every Community Up for Retirement Enhancement Act of 2022 (SECURE 2.0). Plan sponsors should proactively review and adjust their plans accordingly to ensure compliance with these new mandates.

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Article

Louisiana Passes Major Tax Reform With Flat Individual and Corporate Rates

December 12, 2024
Article

Louisiana Passes Major Tax Reform With Flat Individual and Corporate Rates

December 12, 2024

Following an extraordinary session of the legislature, Louisiana Gov. Jeff Landry on December 5 signed into law sweeping tax reform. The package includes bills related to individual (H.B. 1), corporate (H.B. 2), franchise (H.B. 3), and sales taxes (H.B. 8, H.B. 10).

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Article

President-Elect Trump Announces Further Proposed Tariff Hikes on “Day One” and Export Controls on China Ramp Up

December 11, 2024
Article

President-Elect Trump Announces Further Proposed Tariff Hikes on “Day One” and Export Controls on China Ramp Up

December 11, 2024

President-elect Trump recently announced major planned tariff increases on goods from Canada and Mexico to be implemented on “day one” of his Administration commencing on January 20, 2025.

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