International

  • January 09, 2025

    Sri Lanka Publishes Advance Pricing Agreement Guidance

    Sri Lanka's Inland Revenue Department published guidance for those interested in entering advance pricing agreements, including eligibility requirements and the steps of the confirmation process.

  • January 09, 2025

    UK Supermarkets Fear Higher Costs Amid Tax Changes

    Supermarket companies Marks & Spencer and Tesco reported Thursday that they had high sales figures due to Christmas, but both retailers also said they expect to face higher tax costs in 2025 due to changes to National Insurance, a payroll tax used to fund social programs.

  • January 09, 2025

    Chile Voluntary Disclosure Program Hits Just 15% Of Estimate

    A Chilean program that allowed for the voluntary disclosure of foreign assets in exchange for a favorable tax rate collected just 92.5 billion Chilean pesos ($92.1 million), which was 15.6% of the projected total, the country's tax authority said.

  • January 09, 2025

    Truss Sends Starmer Legal Threat Over Economy Crash Claim

    Former Prime Minister Liz Truss sent a legal letter to Keir Starmer on Thursday demanding that he stop making "false and defamatory" statements that she crashed the economy, claiming that it is damaging her reputation.

  • January 08, 2025

    Pension Plan Official's Estate Excused From Danish Tax Suit

    A New York federal court approved Wednesday an agreement for Denmark's tax authority to settle its claims against the estate of a pension plan official whose plan allegedly defrauded the agency out of $9 million.

  • January 08, 2025

    Bank Misclassified Card Fee Revenue, Canada Tax Court Says

    A major Canadian bank must reclassify about CA$392 million ($273 million) in revenue from credit card services in the calculation of its taxes, reducing credits it can claim for three years, the Tax Court of Canada ruled.

  • January 08, 2025

    UK Accounting Firm Adds Tax Partner To Office

    U.K. accounting firm Martin and Co., a part of the Shaw Gibbs LLP group, has appointed a tax expert from Evelyn Partners as a tax partner to its Winchester office.

  • January 08, 2025

    US, Swiss To Give Retirement Plans Lower Dividend Tax Rates

    The Swiss and U.S. competent authorities agreed to provide lower tax rates on dividends for several types of retirement entities such as trusts that run pensions, qualified annuity plans and individual plans under the two countries' tax treaty, the Swiss government said Wednesday.

  • January 08, 2025

    NY Bill Aims To Increase Tax On GILTI, Raise Top Biz Tax Rate

    New York would reduce the amount of global intangible low-taxed income that is exempt from state tax and nearly double the top corporation franchise tax rate under a bill filed Wednesday in the state Senate.

  • January 08, 2025

    Hong Kong Considering OECD Minimum Tax Bill

    Hong Kong would carry out the Organization for Economic Cooperation and Development's 15% global corporate minimum tax for large multinational entities under a legislative bill introduced Wednesday.

  • January 08, 2025

    Kenya Ratifies OECD Tax Treaty Standards

    Kenya ratified the Organization for Economic Cooperation and Development's multilateral convention on base erosion and profit shifting, which updates bilateral tax treaties of its signatories with agreed-upon standards, the OECD said Wednesday.

  • January 07, 2025

    Canada To Keep Collecting New Gains Tax Amid Halt In Gov't

    Canada's tax authority will continue collections of capital gains tax that reflect proposed changes to the levy despite a suspension of Parliament that will hold up the proposal for months, the country's Department of Finance said Tuesday.

  • January 07, 2025

    Detroit Settles Protracted Tax Fight Over Holding Co.'s Gain

    Detroit reached a tentative settlement in a long-running tax assessment dispute stemming from a holding company's gain from selling stock in a Canadian tobacco testing company, the city said in a court filing Tuesday.

  • January 07, 2025

    30 Arrested In Connection With €17M Luxury Car VAT Fraud

    Authorities arrested 30 people after an investigation in Spain and Germany into a €17 million ($17.6 million) value-added tax fraud involving the international trade of luxury cars, the European Public Prosecutor's Office said Tuesday.

  • January 07, 2025

    Baker McKenzie Adds Tax Partners In California And New York

    Baker McKenzie is fortifying its tax practice by hiring a partner in San Francisco with experience in planning tax positions and handling controversies for technology-driven companies and rehiring another in New York who is skilled at state taxes and journalism.

  • January 07, 2025

    Oman Implements Global Minimum Tax

    Large multinational entities making over €750 million ($777 million) annually are now subject to the Organization for Economic Cooperation and Development's 15% corporate global minimum income tax in Oman after the country implemented two portions of the group's standards.

  • January 06, 2025

    Apple Tax Ruling Fuels Most Of Ireland's €12.8B Surplus

    Ireland recorded a €12.8 billion ($13.3 billion) budget surplus in 2024, though all but €1.8 billion of that revenue was the result of the European Union's highest court ordering Apple to repay billions in back taxes and interest, the country's Department of Finance said Monday.

  • January 06, 2025

    Tax Whistleblower Urges High Court To Review $690M Claim

    A whistleblower is asking the U.S. Supreme Court to review his claim for up to $690 million as his share of the $2.3 billion recovered through Internal Revenue Service investigations that he said resulted from his cooperation.

  • January 06, 2025

    Proskauer Adds New Funds Partners In NY, DC

    Proskauer Rose LLP announced Monday it has rung in the new year by adding two new partners to its private funds group, with the addition of a tax expert from Schulte Roth & Zabel LLP in New York and a regulatory specialist from the SEC in Washington, D.C.

  • January 06, 2025

    Indian Accountants Push For Simplified Tax Code

    India should simplify its process for determining the resident status of individuals for tax purposes, a group representing Indian accountants said, offering suggestions in response to the government's call for feedback on how to improve its income tax code.

  • January 06, 2025

    US Wants More Time To Counter Altria's $106M Tax Refund Bid

    Tobacco giant Altria's complaint seeking a $106 million tax refund related to its interests in beverage company Anheuser-Busch requires more research to counter in the event a Virginia federal court decides it can move forward, the U.S. government said in requesting time for potential discovery.

  • January 06, 2025

    France's New Finance Minister Hints At Capital Gains Hike

    The newly formed French government is open to raising the capital gains tax as part of concessions in talks to settle the country's budget for 2025, the finance minister said Monday.

  • January 06, 2025

    UK, Ecuador Double-Tax Treaty Comes Into Force

    Portions of a treaty to prevent double taxation between the U.K. and Ecuador came into force at the start of the year, with two other U.K.-focused portions set to begin in April, HM Revenue & Customs said Monday.

  • January 06, 2025

    Trudeau Steps Down As US-Canada Trade Tensions Simmer

    Canadian Prime Minister Justin Trudeau announced Monday that he will resign as the leader of the country's Liberal Party, setting off a process to replace him in the coming months.

  • January 06, 2025

    Ex-Entain CEO Sues Gambling Watchdog Over Bribery Reveal

    Two former top executives at the predecessor of betting giant Entain have sued the Gambling Commission over claims that the regulator misused their private information by disclosing an investigation into potential bribery.

Expert Analysis

  • Mental Health First Aid: A Brief Primer For Attorneys

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    Amid a growing body of research finding that attorneys face higher rates of mental illness than the general population, firms should consider setting up mental health first aid training programs to help lawyers assess mental health challenges in their colleagues and intervene with compassion, say psychologists Shawn Healy and Tracey Meyers.

  • The Trade And Tax Issues Behind US-Canada Digital Tax Clash

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    The new Canadian digital services tax recently went into effect despite objections from the U.S., a controversy that represents an unusual mix of trade and tax policy, and many companies have been pondering how it will affect their e-commerce businesses, says Damon Pike at BDO.

  • Litigation Inspiration: Honoring Your Learned Profession

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    About 30,000 people who took the bar exam in July will learn they passed this fall, marking a fitting time for all attorneys to remember that they are members in a specialty club of learned professionals — and the more they can keep this in mind, the more benefits they will see, says Bennett Rawicki at Hilgers Graben.

  • AI May Limit Key Learning Opportunities For Young Attorneys

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    The thing that’s so powerful about artificial intelligence is also what’s most scary about it — its ability to detect patterns may curtail young attorneys’ chance to practice the lower-level work of managing cases, preventing them from ever honing the pattern recognition skills that undergird creative lawyering, says Sarah Murray at Trialcraft.

  • Ruling On Foreign Dividend Break Offers 2 Tax Court Insights

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    In Varian v. Commissioner, the U.S. Tax Court allowed a taxpayer's deduction for dividends from foreign subsidiaries, providing clarity on how the U.S. Supreme Court’s Loper Bright decision may affect challenges to Treasury regulations, and revealing a potential disallowance of foreign tax credits, say attorneys at Davis Polk.

  • Why Now Is The Time For Law Firms To Hire Lateral Partners

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    Partner and associate mobility data from the second quarter of this year suggest that there's never been a better time in recent years for law firms to hire lateral candidates, particularly experienced partners — though this necessitates an understanding of potential red flags, say Julie Henson and Greg Hamman at Decipher Investigative Intelligence.

  • Considering Possible PR Risks Of Certain Legal Tactics

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    Disney and American Airlines recently abandoned certain litigation tactics in two lawsuits after fierce public backlash, illustrating why corporate counsel should consider the reputational implications of any legal strategy and partner with their communications teams to preempt public relations concerns, says Chris Gidez at G7 Reputation Advisory.

  • It's No Longer Enough For Firms To Be Trusted Advisers

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    Amid fierce competition for business, the transactional “trusted adviser” paradigm from which most firms operate is no longer sufficient — they should instead aim to become trusted partners with their most valuable clients, says Stuart Maister at Strategic Narrative.

  • Navigating A Potpourri Of Possible Transparency Act Pitfalls

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    Despite the Financial Crimes Enforcement Network's continued release of guidance for complying with the Corporate Transparency Act, its interpretation remains in flux, making it important for companies to understand potentially problematic areas of ambiguity in the practical application of the law, say attorneys at Sidley.

  • How Methods Are Evolving In Textualist Interpretations

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    Textualists at the U.S. Supreme Court are increasingly considering new methods such as corpus linguistics and surveys to evaluate what a statute's text communicates to an ordinary reader, while lower courts even mull large language models like ChatGPT as supplements, says Kevin Tobia at Georgetown Law.

  • Why Attorneys Should Consider Community Leadership Roles

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    Volunteering and nonprofit board service are complementary to, but distinct from, traditional pro bono work, and taking on these community leadership roles can produce dividends for lawyers, their firms and the nonprofit causes they support, says Katie Beacham at Kilpatrick.

  • Firms Must Offer A Trifecta Of Services In Post-Chevron World

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    After the U.S. Supreme Court’s Loper Bright Enterprises v. Raimondo decision overturning Chevron deference, law firms will need to integrate litigation, lobbying and communications functions to keep up with the ramifications of the ruling and provide adequate counsel quickly, says Neil Hare at Dentons.

  • 5 Tips To Succeed In A Master Of Laws Program And Beyond

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    As lawyers and recent law school graduates begin their Master of Laws coursework across the country, they should keep a few pointers in mind to get the most out of their programs and kick-start successful careers in their practice areas, says Kelley Miller at Reed Smith.

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