FATCA – the latest disclosures

Many clients have received requests to complete the new style W8 form. This is part of the implementation of the Foreign Account Tax Compliance Act (FATCA), the recent US legislation requiring extensive disclosure of financial assets and income.

Firms Complete Merger to Create Elliott Davis Decosimo

Elliott Davis and Decosimo are pleased to announce that the merger between the two firms is complete, effective January 1, 2015. The combined firm, Elliott Davis Decosimo, is one of the top accounting, tax and consulting services firms in the U.S. with total annual revenues of $120 million and more than 800 professionals and specialists in 17 offices across seven states – Alabama, Georgia, North Carolina, Ohio, South Carolina, Tennessee, Virginia – and the Cayman Islands.

Simplified Transfer Pricing Record-Keeping Requirements

The Australian Taxation Office (ATO) have released a range of safe harbours that enable some SME taxpayers to simplify their transfer pricing (TP) record-keeping requirements and eliminate the risk of an ATO TP review for an initial three year test period.  If an SME meets the safe harbor conditions and elects to apply the simplified record keeping the ATO will not review the TP records of the entity other than to confirm their eligibility to apply the concession.