International
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March 18, 2024
HMRC Defends Response To Tax Avoidance Ploy
The U.K. tax authority has rejected claims that it has been "heavy-handed" by applying the loan charge to users of disguised remuneration schemes, according to a letter released on Tuesday by the Treasury Committee.
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March 18, 2024
Australia Seeks Input On Revised Energy Tax Regulations
Australia's Department of the Treasury is seeking responses from the public to a draft of updated regulations for determining petroleum resource rent tax, the department announced Monday.
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March 18, 2024
Justices Won't Review Dead Film Exec's IRS Summons
The U.S. Supreme Court on Monday denied a request from the daughter of a dead film executive to consider invalidating an IRS summons for her father's financial records, letting stand a Ninth Circuit decision that found the agency sought the records in good faith.
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March 18, 2024
Gov'ts Widely Back Building Capacity Of Tax Authorities
Building the skills and capacities of tax authorities to implement international tax standards should be a central focus of global tax cooperation at the United Nations for governments to gain revenue, officials from the U.S., the African Group and many others said Monday.
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March 18, 2024
Axed HMRC Staffer Wins £16K Disability Discrimination Case
HM Revenue and Customs must pay a disabled former employee £15,900 ($20,200) after it unfairly sacked him for gross misconduct and wrote off his claim that his sleep apnea was to blame, a Scottish tribunal has ruled.
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March 18, 2024
Wyden, Whitehouse Scrutinize DOJ's Caterpillar Investigation
Two top Democratic senators asked the U.S. Justice Department about its handling of a criminal inquiry into Caterpillar for potential financial crimes and corporate tax fraud after receiving evidence corroborating a report that former DOJ officials may have suppressed the investigation, according to a letter released Monday.
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March 18, 2024
FCA Levies £5.95M Fine In Fake Dividend Tax Reclaim Case
The Financial Conduct Authority said Monday it had decided to fine the former chief executive of Indigo Global Partners Ltd. £5.95 million ($7.57 million) and ban him from the industry for participating in a Danish tax scam that falsely reclaimed dividend taxes on shares.
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March 18, 2024
Serving Claims To HMRC By Email Made Permanent
Claimants pursuing legal action against the U.K. tax authority in England and Wales will continue to be able to serve documents by email, HM Revenue and Customs said Monday, making the process it introduced during the COVID-19 pandemic permanent.
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March 18, 2024
Polish Senate Committee Objects To EU BEFIT Proposal
A Polish Senate committee has objected to a new legislative proposal for corporate taxation in the European Union because it said it may lead to a loss of tax income and weaken the country's investment support programs.
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March 15, 2024
UAE Seeks Public Input On Global Minimum Tax
The United Arab Emirates is seeking public comments on implementing the global minimum tax under the OECD's tax reform plan, along with other tax issues, the country's Ministry of Finance announced Friday.
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March 15, 2024
France's Green Energy Investment Tax Credit Now In Effect
Companies operating in France's wind power sector and other clean energy industries will now be able to use the country's new green investment tax credit, the French finance ministry said Friday.
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March 15, 2024
Bechtel's Appeal Tossed In $8.5M Australian Tax Case
Bechtel Corp. must pay taxes of AU$13 million ($8.5 million) on costs of transporting employees to a worksite because the travel did not occur in the course of producing income, a Federal Court of Australia panel said Friday.
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March 15, 2024
The Tax Angle: House GOP Plots TCJA Renewal Strategy
House Republicans left Washington this week for their annual two-day legislative issues conference, hoping to expand their control of the chamber in the upcoming November elections and planning their strategy for renewal of their historic 2017 tax overhaul law.
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March 15, 2024
Tax Foundation Says UN Should Avoid Duplicating Tax Efforts
The United Nations should only create global tax rules in areas where it can effectively reduce uncertainty and should avoid duplicating negotiations underway elsewhere, the Tax Foundation said Friday in a response to the organization.
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March 15, 2024
Netherlands Enters Tax Treaty Talks With 3 More Countries
The Netherlands government announced plans to negotiate 13 tax treaties this year, including work on agreements with three new countries.
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March 15, 2024
Colombia, Norway Aim To Harmonize UN And OECD Tax Work
Colombia and Norway are aiming to bring the best aspects of the OECD's tax work into negotiations at the United Nations while drafting a framework convention on global tax cooperation, officials said Friday during a conference in Paris.
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March 15, 2024
Taxation With Representation: Freshfields, Kirkland
In this week's Taxation with Representation, AstraZeneca acquires Amolyt Pharma, XCF Global Capital goes public and EQT Corp. merges with Equitrans Midstream Corp.
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March 14, 2024
Taiwanese Gov't Proposes Filing Of Electronic Invoicing
The Taiwan government's executive branch approved a draft amendment to the island's Value-added and Non-value-added Business Tax Act that would require businesses to file electronic invoices on an open database, the Ministry of Finance announced Thursday.
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March 14, 2024
Economists Suggest UN Tackle CFC Rules, Other Tax Policies
Governments should look at coordinating globally on controlled foreign corporation rules, economic substance requirements, financial transparency, excess profits taxes, inheritance taxes and wealth taxes in negotiations on the nascent United Nations tax convention, economists said Thursday at a conference in Paris.
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March 14, 2024
Wealth Tax, Stiff Biz Tax Could Fund Climate Fight, Study Says
Governments could generate the $500 billion experts think developing countries would need annually to fund the fight against climate change with a 2% global minimum tax on billionaires and a 20% global minimum tax on corporations with no exclusions, the EU Tax Observatory said Thursday.
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March 14, 2024
New Zealand Proposes 12% Tax On Overseas Online Casinos
The New Zealand tax agency proposed Thursday to target the profits of offshore online gambling companies with a 12% tax that would bring in an expected NZ$35 million ($21.5 million) a year.
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March 14, 2024
Israel Tax Authority Claims Owner Of US Biz Underpaid Tax
A Jerusalem man is suspected of failing to report 50 million Israeli new shekels ($13.7 million) of his income from companies in Israel and abroad, the Israel Tax Authority said Thursday.
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March 14, 2024
Brazil Turns To Central Region In Farm Tax Fraud Probe
Brazil's tax authority is focusing on the country's central region in the next phase of an investigation into a tax avoidance scheme that led it to more than 550 million real ($110.2 million) in uncollected revenue from rural farmers.
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March 14, 2024
Nine In 10 Finnish Cos. Report Positive Attitude To Taxation
Nine of 10 Finnish companies have a positive attitude toward taxation, according to a survey announced Thursday by Finland's Tax Administration.
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March 14, 2024
IRS' Signals On Economic Substance Doctrine Draw Scrutiny
The Internal Revenue Service's recent legal success asserting a doctrine to invalidate transactions in tax law enforcement matters may embolden the government to broaden that argument's reach, and lawyers are concerned it doesn't properly apply to transfer pricing matters.
Treasury Mulling Whether To Keep Foreign Tax Credit Regime
The U.S. Treasury Department is considering whether the best way to provide administrable foreign tax credit rules and address related policy concerns is to retain the framework from paused final regulations or develop a new one, a Treasury official said Monday.
Direct Hit On Tax Regs Unlikely If Justices Ditch Chevron
A decision from the U.S. Supreme Court later this year on two cases challenging the so-called Chevron doctrine, which gives federal agencies wide latitude to interpret ambiguous laws, isn't likely to immediately affect tax regulations.
Swiss Senate Votes Not To Consider Tonnage Tax
The upper house of the Swiss legislature has decided not to consider a tonnage tax proposal, choosing instead to follow the recommendation of a committee that last month recommended not taking up the measure.
Featured Stories
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The Tax Angle: House GOP Plots TCJA Renewal Strategy
House Republicans left Washington this week for their annual two-day legislative issues conference, hoping to expand their control of the chamber in the upcoming November elections and planning their strategy for renewal of their historic 2017 tax overhaul law.
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Direct Hit On Tax Regs Unlikely If Justices Ditch Chevron
A decision from the U.S. Supreme Court later this year on two cases challenging the so-called Chevron doctrine, which gives federal agencies wide latitude to interpret ambiguous laws, isn't likely to immediately affect tax regulations.
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'Non-Dom' Tax Reforms Should Keep UK Lawyers Busy
The government's decision to reform its 200-year-old "non-dom" tax regime to raise £2.7 billion ($3.4 billion) a year presents a short-term boom for tax lawyers expecting a rush of calls from existing and future clients looking for guidance on a new set of rules.
Expert Analysis
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What Recent Study Shows About AI's Promise For Legal Tasks
Amid both skepticism and excitement about the promise of generative artificial intelligence in legal contexts, the first randomized controlled trial studying its impact on basic lawyering tasks shows mixed but promising results, and underscores the need for attorneys to proactively engage with AI, says Daniel Schwarcz at University of Minnesota Law School.
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How FinCEN Proposal Expands RE Transaction Obligations
Against a regulatory backdrop foreshadowing anti-money laundering efforts in the real estate sector, the Financial Crimes Enforcement Network's proposed rule significantly expands reporting requirements for certain nonfinanced residential real estate transfers and necessitates careful review, say attorneys at Fried Frank.
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Business Litigators Have A Source Of Untapped Fulfillment
As increasing numbers of attorneys struggle with stress and mental health issues, business litigators can find protection against burnout by remembering their important role in society — because fulfillment in one’s work isn’t just reserved for public interest lawyers, say Bennett Rawicki and Peter Bigelow at Hilgers Graben.
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Unpacking FinCEN's Proposed Real Estate Transaction Rule
Phil Jelsma and Ulrick Matsunaga at Crosbie Gliner take a close look at the Financial Crimes Enforcement Network's recently proposed rulemaking — which mandates new disclosures for professionals involved in all-cash real estate deals — and discuss best next steps for the broad range of businesses that could be affected.
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Think Like A Lawyer: Forget Everything You Know About IRAC
The mode of legal reasoning most students learn in law school, often called “Issue, Rule, Application, Conclusion,” or IRAC, erroneously frames analysis as a separate, discrete step, resulting in disorganized briefs and untold obfuscation — but the fix is pretty simple, says Luke Andrews at Poole Huffman.
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How New EU Tax And Transfer Pricing Rules May Affect M&A
Companies involved in mergers and acquisitions may need to adjust fiscal due diligence procedures to ensure they consider potential far-reaching effects of newly implemented transfer pricing measures, such as newly implemented global minimum tax and European Union anti-tax avoidance directives and proposals, says Patrick Tijhuis at BDO.
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How Firms Can Ensure Associate Gender Parity Lasts
Among associates, women now outnumber men for the first time, but progress toward gender equality at the top of the legal profession remains glacially slow, and firms must implement time-tested solutions to ensure associates’ gender parity lasts throughout their careers, say Kelly Culhane and Nicole Joseph at Culhane Meadows.
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7 Common Myths About Lateral Partner Moves
As lateral recruiting remains a key factor for law firm growth, partners considering a lateral move should be aware of a few commonly held myths — some of which contain a kernel of truth, and some of which are flat out wrong, says Dave Maurer at Major Lindsey.
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6 Pointers For Attys To Build Trust, Credibility On Social Media
In an era of information overload, attorneys can use social media strategically — from making infographics to leveraging targeted advertising — to cut through the noise and establish a reputation among current and potential clients, says Marly Broudie at SocialEyes Communications.
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US-Chile Tax Treaty May Encourage Cross-Border Investment
Provisions in the recently effective U.S.-Chile bilateral income tax treaty should encourage business between the two countries, as they reduce U.S. withholding tax on investment income for Chilean taxpayers, exempt certain U.S. taxpayers from Chilean capital gains tax, and clarify U.S. foreign tax credit rules, say attorneys at Kramer Levin.
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A Post-Mortem Analysis Of Stroock's Demise
After the dissolution of 147-year-old firm Stroock late last year shook up the legal world, a post-mortem analysis of the data reveals a long list of warning signs preceding the firm’s collapse — and provides some insight into how other firms might avoid the same disastrous fate, says Craig Savitzky at Leopard Solutions.
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SG's Office Is Case Study To Help Close Legal Gender Gap
As women continue to be underrepresented in the upper echelons of the legal profession, law firms could learn from the example set by the Office of the Solicitor General, where culture and workplace policies have helped foster greater gender equality, say attorneys at Ocean Tomo.
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Reimagining Law Firm Culture To Break The Cycle Of Burnout
While attorney burnout remains a perennial issue in the legal profession, shifting post-pandemic expectations mean that law firms must adapt their office cultures to retain talent, say Kevin Henderson and Eric Pacifici at SMB Law Group.