International

  • February 20, 2024

    Isle Of Man Floats Tax Hike As Bridge To Pillar 2 Adoption

    The Isle of Man's proposed 2024 budget would increase the income tax rate on banking businesses and large retailers whose profits would be subject to the Organization for Economic Cooperation and Development's global minimum tax, the island's treasury minister said Tuesday.

  • February 20, 2024

    Kirkland & Ellis Brings On Weil Tax Pros In NY, DC

    Kirkland & Ellis has recruited a pair of real estate tax partners from Weil Gotshal & Manges LLC who advised clients on a wide range of complex transactions, Kirkland announced Tuesday.

  • February 20, 2024

    HMRC's Civil Tax Avoidance Case Investigations Fall By Half

    HM Revenue & Customs investigated nearly half as many potential civil tax avoidance cases in the 2022-23 tax year as it did in 2018-19, including an even bigger drop in cases opened by its team investigating offshore, corporate and wealthy taxpayers, two local news agencies said.

  • February 20, 2024

    Czech Republic Launching R&D Credit Certainty Pilot Program

    The Czech Republic is launching a pilot collaboration between its finance administration and science agencies in hopes of making the value of research and development credits available to Czech companies more predictable, a pair of government bodies said Tuesday.

  • February 20, 2024

    EU Drops 4 Jurisdictions From Tax Haven Blacklist

    The European Union removed four jurisdictions Tuesday from its list of noncooperative jurisdictions for tax purposes, the Council of the EU announced, saying the jurisdictions had either resolved their deficiencies or were waiting for a review of improvements made.

  • February 20, 2024

    Swiss Seen Turning To Credits, Subsidies As Pillar 2 Begins

    Switzerland is expected to turn to the use of subsidies and tax credits to try to keep business in the country as its ability to compete on tax rates is curtailed by the introduction of the global minimum tax.

  • February 19, 2024

    Barrister Disbarred For Pocketing £149K In VAT Payments

    A barrister was ordered to be disbarred on Monday after he admitted to receiving value-added tax on his professional fees despite not being registered for it, with a tribunal saying he acted dishonestly and that his behavior amounted to "serious misconduct."

  • February 19, 2024

    OECD Presents Simplified Amount B Transfer Pricing Rules

    The international negotiating body working on fundamental changes to corporate tax law presented a new approach to simplifying the application of transfer pricing rules on Monday, the Organization of Economic Cooperation and Development said.

  • February 16, 2024

    Manufacturers Back 3M In 8th Circ. Transfer Pricing Case

    The National Association of Manufacturers joined the chorus of business groups supporting 3M, asking the Eighth Circuit to throw out transfer pricing regulations that allow the Internal Revenue Service to reallocate income to U.S. group members even when foreign laws prohibit outbound payments.

  • February 16, 2024

    Medtronic Urges 8th Circ. To Undo Transfer Pricing Ruling

    Medical device company Medtronic asked the Eighth Circuit on Friday to overturn a decision rejecting its pricing method for licensing intellectual property to its Puerto Rican affiliate, saying in the long-running case that Medtronic hadn't used the intercompany arrangement to underreport its income.

  • February 16, 2024

    Low Revenue May Drive US To Rethink Anti-Erosion Tax

    The base erosion and anti-abuse tax has been relatively easy to avoid without significant legal risk, tax professionals told Law360, a result that may prompt lawmakers to consider revising or replacing the provision as other major parts of the Tax Cuts and Jobs Act expire at the end of 2025.

  • February 16, 2024

    4 Arrested In Suspected €10M Italian VAT Fraud Scheme

    Italian authorities arrested four people as part of an investigation into what the European Public Prosecutor's Office said Friday was a €10 million ($10.7 million) value-added tax fraud scheme involving the sale of tires.

  • February 16, 2024

    Taxation With Representation: Paul Weiss, Kirkland

    In this week's Taxation With Representation, Diamondback buys Endeavor, KKR & Co. acquires a stake in Cotiviti, and Gilead Sciences Inc. purchases CymaBay Therapeutics Inc.

  • February 16, 2024

    New EU VAT Rules' Impact Will Be Seen In 2025, Official Says

    The impact of the European Union's new reporting obligations for payment processors that handle online cross-border transactions will become clearer starting next year, an EU official said Friday.

  • February 16, 2024

    Singapore Reaffirms Plan To Carry Out Minimum Tax Next Year

    Singapore remains on track to implement the Organization for Economic Cooperation and Development's corporate global minimum tax standards starting next year, the country's finance minister said Friday.

  • February 16, 2024

    Irish Parliament Panel Objects To EU's BEFIT Proposal

    A committee of Ireland's Parliament objected to a new draft framework for corporate taxation in the European Union, saying it oversteps the legal boundaries of EU legislation and undercuts the ability of individual countries to engage in tax competition. 

  • February 15, 2024

    Chamber, Others Back 3M In Transfer Pricing Appeal

    The Eighth Circuit should set aside transfer pricing regulations from the U.S. Treasury Department that reallocated $23 million of income from 3M's Brazilian affiliate to the parent company, three trade associations told the court in amicus briefs.

  • February 15, 2024

    US Extends Deal On Existing Digital Taxes With 5 Countries

    Austria, France, Italy, Spain and the U.K. will continue applying their digital services taxes in light of the extended timeline to implement the Pillar One international profit reallocation agreement, the countries said Thursday in a joint statement with the U.S.

  • February 15, 2024

    Fla. Couple Get 57 Mos. For Evading $42M In Plywood Duties

    A Florida couple were sentenced to nearly five years in prison each after confessing to disguising the Chinese origin of millions of dollars' worth of plywood imports to avoid paying $42 million in import tariffs.

  • February 15, 2024

    HMRC Seeks Input On Tax Administration Capabilities

    HM Revenue & Customs is asking for feedback on its tax administration capabilities, particularly its inquiry and assessment powers, penalties and safeguards, it said Thursday.

  • February 15, 2024

    Mexico Granting Tax Credits For Hydrocarbon Activities

    Mexico has created what it calls a stimulus package for businesses conducting hydrocarbon exploration and extraction, granting tax credits for certain costs incurred over four months stretching back to 2023, according to a presidential decree.

  • February 15, 2024

    CPAs Call For Limiting Currency Recomputation Rules

    The IRS should exclude smaller taxpayers from requirements in proposed regulations for companies to recompute foreign currency gains or losses and income or losses into their parent entities' currencies annually, the American Institute of Certified Public Accountants said in a letter.

  • February 15, 2024

    EU Must Be Ready To Loosen Fiscal Policy, Gentiloni Says

    European Union countries should be ready to loosen their fiscal policy to stimulate the economy if growth slows further and inflation keeps falling, Paolo Gentiloni, the EU's tax commissioner, said Thursday.

  • February 15, 2024

    City Lobby Calls For Tax Cuts, Investment Reform In Budget

    The U.K. government should cut taxes on banking, make it easier for firms to list as public companies and create a new investment office to boost competitiveness, according to a leading financial lobby.

  • February 14, 2024

    Biden's OECD Pick Vows To Warren He'll Avoid Crypto Policy

    A former New York congressman who's been nominated to serve as the U.S. ambassador to a global economic development body has said he'll forgo working on crypto-oriented policy if he's confirmed to the job after Sen. Elizabeth Warren, D.-Mass, expressed concern over his work with cryptocurrency exchange Coinbase.

Expert Analysis

  • 7 E-Discovery Predictions For 2024 And Beyond

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    The legal and technical issues of e-discovery now affect virtually every lawsuit, and in the year to come, practitioners can expect practices and policies to evolve in a number of ways, from the expanded use of relevancy redactions to mandated information security provisions in protective orders, say attorneys at Littler.

  • 5 Litigation Funding Trends To Note In 2024

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    Over the next year and beyond, litigation funding will continue to evolve in ways that affect attorneys and the larger litigation landscape, from the growth of a secondary market for funded claims, to rising interest rates restricting the availability of capital, says Jeffery Lula at GLS Capital.

  • 4 Legal Ethics Considerations For The New Year

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    As attorneys and clients reset for a new year, now is a good time to take a step back and review some core ethical issues that attorneys should keep front of mind in 2024, including approaching generative artificial intelligence with caution and care, and avoiding pitfalls in outside counsel guidelines, say attorneys at HWG.

  • What The Law Firm Of The Future Will Look Like

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    As the legal landscape shifts, it’s become increasingly clear that the BigLaw business model must adapt in four key ways to remain viable, from fostering workplace flexibility to embracing technology, say Kevin Henderson and Eric Pacifici at SMB Law Group.

  • 4 PR Pointers When Your Case Is In The News

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    Media coverage of new lawsuits exploded last year, demonstrating why defense attorneys should devise a public relations plan that complements their legal strategy, incorporating several objectives to balance ethical obligations and advocacy, say Nathan Burchfiel at Pinkston and Ryan June at Castañeda + Heidelman.

  • Unpacking The Proposed Production Tax Credit Regulations

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    Recently proposed tax regulations for claiming the U.S. clean-energy manufacturers' production credit under Internal Revenue Code Section 45X are less stringent than many had feared but fail to define a fundamental eligibility requirement, say Casey August and Jared Sanders at Morgan Lewis.

  • 10 Considerations For Litigating A New York Tax Case

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    While some of New York’s recently adopted corporate tax regulations are likely to face legal challenges, aggrieved taxpayers should answer certain questions before deciding to embark on the tax litigation process, say Cyavash Ahmadi and Jeffrey Friedman at Eversheds Sutherland.

  • Law Firm Strategies For Successfully Navigating 2024 Trends

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    Though law firms face the dual challenge of external and internal pressures as they enter 2024, firms willing to pivot will be able to stand out by adapting to stakeholder needs and reimagining their infrastructure, says Shireen Hilal at Maior Consultants.

  • Attorneys' Busiest Times Can Be Business Opportunities

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    Attorneys who resolve to grow their revenue and client base in 2024 should be careful not to abandon their goals when they get too busy with client work, because these periods of zero bandwidth can actually be a catalyst for future growth, says Amy Drysdale at Alchemy Consulting.

  • How Attorneys Can Be More Efficient This Holiday Season

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    Attorneys should consider a few key tips to speed up their work during the holidays so they can join the festivities — from streamlining the document review process to creating similar folder structures, says Bennett Rawicki at Hilgers Graben.

  • How Clients May Use AI To Monitor Attorneys

    Excerpt from Practical Guidance
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    Artificial intelligence tools will increasingly enable clients to monitor and evaluate their counsel’s activities, so attorneys must clearly define the terms of engagement and likewise take advantage of the efficiencies offered by AI, says Ronald Levine at Herrick Feinstein.

  • The Pop Culture Docket: Judge D'Emic On Moby Grape

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    The 1968 Moby Grape song "Murder in My Heart for the Judge" tells the tale of a fictional defendant treated with scorn by the judge, illustrating how much the legal system has evolved in the past 50 years, largely due to problem-solving courts and the principles of procedural justice, says Kings County Supreme Court Administrative Judge Matthew D'Emic.

  • Breaking Down High Court's New Code Of Conduct

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    The U.S. Supreme Court recently adopted its first-ever code of conduct, and counsel will need to work closely with clients in navigating its provisions, from gift-giving to recusal bids, say Phillip Gordon and Mateo Forero at Holtzman Vogel.

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