California Registry Adopts Carbon Offset Standards for Destruction of CFCs, HCFCs

A Los Angeles-based voluntary carbon offset registry has approved standards to quantify and to monitor greenhouse gas emissions reductions from the recovery and destruction of…

Michigan Court Says State Not Required to Regulate Carbon Dioxide Emissions

The Michigan Court of Appeals Feb. 10 released an unpublished opinion upholding a lower court’s finding that Michigan’s environmental agency is not required to promulgate rules regulating…

Senate Passes Legislation to Curb Penalties for Tax Shelter Investments

The Senate passed legislation (S. 2917) Feb. 9 that would limit penalties for individuals and businesses that invest in tax shelters by tying fines to…

Obama International Tax Plan Marks Fundamental Change, Should be Scrutinized, PwC Practitioners Say

The package of international tax proposals unveiled by the Obama administration Feb. 1 represents fundamental changes to the tax law and should be carefully watched by corporate taxpayers…

Featured Article: US Customs issues first APA ruling since 2003

In a development sure to have implications for every major importer of merchandise into the United States which purchases goods from related sellers, US Customs HQ issued an Internal Advice ruling on December 8, 2009 (HQ H029658) which approved the use of transaction value when the import values were based on prices set pursuant to a bilateral Advance Pricing Agreement (APA)…