Tax & Accounting

Filling 9 billion bowls by securing land rights

land rights

How will we feed 9 billion people in 2050? If we are to meet the hungry demands of our future, we need a revolution in the way we produce and deliver food. Here’s an excerpt from our 9 Billion Bowls multimedia report, which tells the story of a diverse group of scientists, students, analysts and inventors who are using Big Data and leading edge technologies in entirely new ways to make this happen. Access the full report at

Land rights and hunger are intimately connected


How auto industry innovation killed the Highway Trust Fund

U.S. President Barack Obama signs a federal Highway Trust Fund bill into law in the Oval Office at the White House in Washington

Every day, Thomson Reuters touches millions of automobile aficionados around the world, including people who design vehicles, regulate their safety, invest in automakers, provide tax advice to them, sue and defend manufacturers and suppliers, and, in the case of the 2015 Frankfurt Auto Show which is currently underway, marvel at the sleek lines, speed and agility of the concept cars that offer unique and wonderful views of a future of which we all want to be a part. Over the past few days, we have been running a series of blog posts that will provide glimpses into the professional lives of our customers touching the auto industry, through proprietary data, insights and expert analysis that only Thomson Reuters can deliver.

Improving fuel economy means less gas tax revenues, requiring new policy options for highway funding

The Highway Trust Fund was nearly shut down this summer. The Fund, which was established in 1956 to finance the U.S. interstate highway system, is currently used to mend bridges, widen lanes and patch the potholes that have been eating up your tires since the winter. With Congress unable to agree on a plan for extending it before the July 31 deadline, a last-minute three-month extension was passed that will keep the Fund up and running through the new October 29 deadline.

The reason for the stalemate: a heated battle over where the money will come from. So far, proposed plans for generating ongoing revenue for the Highway Trust Fund have ranged from selling barrels of oil from the Strategic Petroleum Reserve and lowering the dividend paid to banks who are members of the Federal Reserve System to alternative approaches such as a one-time tax on corporations’ offshore profits.

As of right now, with the clock ticking ever closer to the new Highway Trust Fund expiration deadline, critics have already started to wonder whether lawmakers will have enough time to start thinking about some real solutions to the nation’s infrastructure woes.

Increasingly, though, it seems that traditional means of taxing fuel aren’t going to cut it. Why? Cars are becoming so efficient that traditional means of generating revenue by taxing fuel consumption are becoming less viable. (more…)

BEPS is here… now what?


Understanding where to start when it comes to country-by-country reporting. This post is by Caitlyn Richards, Senior Solutions Consultant, ONESOURCE Transfer Pricing.

For some time, the OECD’s Base Erosion and Profit Shifting (BEPS) guidelines have been a major topic of conversation for multinational enterprises (MNEs) and taxing authorities around the world. With numerous countries moving forward with BEPS related legislation—including the UK, Australia, Spain, Mexico and most recently, the Netherlands and China —BEPS is becoming less of a future happening and more of a here-and-now reality. For MNEs, this means understanding the more tangible aspects of BEPS and how to address them operationally, particularly when it comes to what sources of data should be used when providing information to taxing authorities and how data should be collected.

While it’s been well-covered that BEPS Action 13 is aimed at standardizing transfer pricing documentation through master file, local file, and country-by-country (CbC) reporting, many MNEs have lingering questions around what exactly the CbC report consists of and what sources of data should be used to complete it. After all, master and local file reporting have existed in many countries for some time, while CbC reporting is an entirely new concept. (more…)

Journalist spotlight: Alex Alper on her Mexican government scoop


In early September, Reuters reported exclusively that Mexico’s government withheld hundreds of millions of dollars in tax refunds owed to Procter & Gamble, Unilever and Colgate combined as it sought to coax them and other multinationals to pay more income tax locally. The country’s tax authority SAT held back more than $384 million in value-added tax from the three firms while it was probing them and nearly 270 others for possible tax avoidance after President Enrique Pena Nieto took office in late 2012. In a Reuters Best: Journalist Spotlight Q&A, correspondent Alexandra Alper offers a behind-the-scenes look at how she scored the exclusive.

Q. How did you get started on the story?

A. While reporting a story last year about how tax authorities were probing Procter & Gamble and Hasbro for tax avoidance, I started to hear rumors from sources linking the probe to a plethora of local media coverage about withheld value-added tax (VAT) refunds. I thought it seemed like an intriguing bargaining tactic, if true, because some large multinational exporters generate up to $35 million per month in VAT due, potentially creating quite a cash flow headache for some of Mexico’s largest employers.

Q. What types of reporting/sourcing were involved in the story? (more…)

‘On the road to a business loan, a CPA can be a banker’s best friend,’ by Bradford L. Hall, CPA



For a one-minute audio intro to the commentary, click here.

Bradford L. Hall



WestlawNext users: Click here to read the full article on WestlawNext.

An Illinois homeowner’s tax bill – Graphic of the day

Mary Beth Jachec lives in a three-bedroom house in Wauconda, Illinois and pays real estate tax to 20 different local government authorities for a total payout of almost $7,000 a year. Today’s graphic shows a breakdown of her 2014 tax bill from a Reuters special report on the multitude of local authorities soaking Illinois homeowners in taxes.

real estate tax

Would you like infographics like this on your website, blog or other social media? Contact us and visit our Reuters Agency blog for insights and discussions on the changing media industry.

Working in West Africa for land rights

Nigeria map

Figure 1. Location of Project site: Jos, Plateau State

Part of enabling economic growth in the developing world involves enhancing the rule of law through a transparent and efficient role for government. We sat down with Lisa Kay Lewis, a land administration business analyst and trainer from Thomson Reuters, to find out about some of her important and even courageous work in Nigeria, where clear land rights are increasingly important in a context of accelerating economic development.

Tim: What brought you to Nigeria in your work for Thomson Reuters? (more…)

Thomson Reuters Tax Talk

Screen Shot 2015-06-17 at 8.50.32 AM

The OECD’s Pascal Saint-Amans discusses global corporate tax reform, with analysis from Joe Harpaz, head of ONESOURCE

Our Tax & Accounting business is launching a series of interviews, moderated by Reuters Editor-at-Large Axel Threlfall, with key players in the world of tax, accounting, and finance.

The first installment features Pascal Saint-Amans, director of the Centre for Tax Policy and Administration at the Organization for Economic Cooperation and Development (OECD).

Saint-Amans is overseeing the OECD’s Base Erosion and Profit-Shifting (BEPS) project to close gaps in international taxation, including a seismic shift in transfer pricing documentation and reporting.

“The common goal is to increase transparency, to level the playing field, to increase competition between players so that tax is not a black hole where you can make a lot of money and be at a competitive advantage compared to your competitors,” he says in the interview. “The second key principle is to realign the location of the profits with the location of the activities because locating all your profits in a tax haven where nothing is happening is nonsense and is not good for competition.”

The interview is available here: (more…)

Our markets – Part two


Being responsible and ethical is part of the Thomson Reuters heritage — a fundamental pillar of our business. We seek to attract and retain the most talented individuals and create an environment where all our people can develop to their full potential to better serve our customers and communities. Valuing and promoting diversity and inclusion is key to this objective. Explore our 2014 Corporate Responsibility & Inclusion report to see how we’re ensuring sustainable growth through diversity of talents, outlooks and ideas. Read part one here.

Pulitzer Prize – Reporting on human-rights abuses leads to Pulitzer — and helps free 900 people from traffickers

In 2014, Reuters won its first-ever Pulitzer Prize for text-based reporting. The 2014 Pulitzer Prize in International Reporting recognized the dedication of a team of Reuters reporters who spent two years investigating human-rights abuses in Myanmar. The Pulitzer committee recognized the team for “their courageous reports on the violent persecution of the Rohingya, a Muslim minority in Myanmar that, in efforts to flee the country, often falls victim to predatory human-trafficking networks.” By bringing the abuses to global attention, the team helped to free more than 900 people from trafficking rings.

Cyberbullying – Fighting back against the cyberbullies

Thomson Reuters this year released a major white paper, ”Fighting Cyberbullying in Schools: What Law Enforcement, Schools and Parents Can Do.” It draws on leading law enforcement professionals, a judge and a county attorney, to help police, school resource officers and security officials better understand, investigate and confront cyberbullying — often cited as a key factor in student suicides and deadly school shootings. Among the solutions outlined in the white paper is CLEAR, an investigative suite from Thomson Reuters, which helps identify and locate people engaged in cyberbullying.

Thomson Reuters Eikon – Eikon in the classroom gives students real-time trading experience


Know what: Opening opportunity’s gates

2014 Annual Report

2014 was a year in which knowing more — who, what, why and how — was critical to informed decision making and successful outcomes. Explore our 2014 Annual Report.

As deal activity resurged around the world in 2014, global investment banking fees across mergers and acquisitions and capital markets activity saw a nearly seven percent increase over last year and their strongest annual period since 2007. China’s 37.4 percent increase over the previous year was just one measure of the enormous changes afoot.

In 2014, China became the world’s largest economy and the renminbi (yuan) became the second-most-used currency in the world for trade finance. The launch of Shanghai-Hong Kong Stock Connect, a major step forward for China cross-border investment, is part of significant financial reform that seeks to bring globally accepted governance standards to the country’s capital markets and financial institutions. And Alibaba’s US$25 billion IPO on the New York Stock Exchange was the largest in history, joining four other China-based companies among the world’s largest IPOs. (more…)