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International

April 09, 2024
EU Lawmakers OK Revised Deal On Imports From Ukraine

European Union lawmakers agreed on a revised deal to extend the suspension of the bloc's customs duties and quotas on Ukrainian imports until June 2025 after some EU countries had rejected a previous deal.
April 09, 2024
Adviser Group Wants Limitations Added To EU Disclosure Law

A group that represents tax advisers in Europe said Tuesday that it wants the European Union's executive branch to add limitations to a major disclosure law designed to combat cross-border tax evasion, saying the law puts too high a burden on them.
April 09, 2024
Labour Party Pledges £5.1B Tax Crackdown If Elected

Britain's opposition Labour Party pledged Tuesday to raise £5.1 billion ($6.5 billion) by closing tax loopholes and cracking down on tax avoidance schemes if it wins the next election, expected later this year.
April 08, 2024
Tax Court Upholds $11M In Foreign Reporting Penalties

The U.S. Tax Court on Monday mostly upheld $11 million in foreign reporting penalties against a man who admitted he hid money overseas, but the court declined to overturn its ruling that the IRS lacks authority to assess certain foreign reporting penalties.
April 08, 2024
CPAs Want Treasury To Delay Beneficial Ownership Registry

The U.S. Department of the Treasury should delay enforcement of beneficial ownership information reporting requirements while courts hear cases challenging the Corporate Transparency Act, the American Institute of Certified Public Accountants and 54 state CPA societies said.
April 08, 2024
Siblings Sentenced Over £1M UK Film Tax Fraud

Two brothers who fraudulently filed for more than £1 million ($1.3 million) in U.K. film and value-added tax refunds for movies actually made in the U.S. — and in one case, never existed — were each sentenced Monday to seven years in prison, HM Revenue & Customs said.
April 08, 2024
EU Tax Single Filing Would Aid Small-Biz Trade, Official Says

A proposal allowing small businesses in the European Union to file a single tax return with the administration of the business' head office as opposed to with every member country where the entity does business would cut compliance costs and encourage trade, an EU official said.
April 08, 2024
EU Expansion Question Shines Light On Tax Voting Procedure

The question of whether the European Union should expand beyond its current 27 member countries is putting the spotlight on the bloc's voting practices, raising concerns that the current unanimity requirement for tax policy changes would become unmanageable with a larger group.
April 05, 2024
Monopolies Will Raise Prices Under Minimum Tax, Expert Says

The 15% global minimum tax will worsen the problems that monopolistic companies impose on economies because raising taxes on a company that lacks competition will lead it to raise prices, an academic expert on tax havens said Friday during a conference.
April 05, 2024
Ireland Issues Example Of Dividend Exemption Proposal

The Ireland Department of Finance released a hypothetical example Friday to help guide further discussions on the country's planned implementation of a participation exemption from Irish corporation tax for foreign dividends.
April 05, 2024
Irish Finance Dept. Seeks 2 Sovereign Funds For Tax Surplus

The Irish Department of Finance introduced a bill that would establish two sovereign wealth funds in Ireland as a way to take advantage of the country's surplus generated in part by corporate windfall taxes.
April 05, 2024
Contrasts Emerge Between Taiwan Tax Bill, Regular Treaties

A bill pending in the Senate would lay the groundwork for double-tax relief and other treaty-like arrangements with Taiwan, but the unique legislative process and relatively reduced content could cast uncertainty over the unofficial accord's ultimate fate.
April 05, 2024
UK Urges Delay In Claiming Pensions Until Rules Change

The U.K. tax authority has warned people to delay claiming their pensions until after Saturday, when the lifetime allowance is abolished, while the government clarifies technical changes to the legislation.
April 05, 2024
EU Executive To Probe Complaint About Hungarian Retail Tax

The European Commission will look into a complaint it received about a Hungarian tax on the retail sector, the European Union's executive branch confirmed Friday.
April 05, 2024
18 Crime Gangs Specialize In VAT Fraud, Europol Says

Eighteen major criminal gangs in the European Union specialize in value-added tax fraud, having end-to-end control over the entire criminal process, the EU's law enforcement agency said Friday.
April 05, 2024
Taxation With Representation: Latham, Simpson Thacher

In this week's Taxation with Representation, Endeavor and Nuvei each go private, SLB purchases ChampionX and Liberty Media Corp. buys Dorna Sports SL.
April 04, 2024
Snell & Wilmer Adds Former McDermott Partner In Dallas

A former McDermott Will & Emery partner and tax specialist has joined Snell & Wilmer's Dallas office to advise clients on cross-border transactions, particularly in Latin America and Mexico.
April 04, 2024
Companies In Limbo As IRS Mulls Waiver For 15% Book Tax

Corporations preparing for their quarterly estimated taxes are uncertain about paying a 15% alternative minimum tax due on April 15, since the Internal Revenue Service granted waivers last year and has yet to release proposed regulations that officials have promised since October.
April 04, 2024
IRS Penalties Proper In $11B Amgen Dispute, Tax Court Says

The Internal Revenue Service properly authorized penalties included in a tax bill of nearly $11 billion that drugmaker Amgen is challenging, the U.S. Tax Court said Thursday.
April 04, 2024
Ireland Would Need Big Tax Hike For Unification, Study Says

The costs of a theoretical reunification of Northern Ireland with the rest of Ireland would be between 5% and 10% of the country's gross national income, which would likely need to be made up with a "dramatic" increase in taxes, a study released Thursday said.
April 04, 2024
Attys Awarded $1.5M In Fees On Tax Disclosure Suit

Attorneys who won a $4.5 million settlement for a class of investors claiming a Chinese startup misrepresented its tax liability will receive their requested $1.5 million in attorney fees, a New York federal judge ruled.
April 04, 2024
Mayer Brown Adds Former KPMG Tax Specialist In London

Mayer Brown has added a former KPMG tax professional to its London office to advise clients on asset management and fund matters in the U.S., Europe and the Middle East, the firm announced.
April 04, 2024
Singapore Co.'s Properties Transfer Ruled Capital Transaction

The transfer of properties between a Singapore company and a related company as part of a corporate restructuring would constitute a capital transaction, the country's Inland Revenue Authority said, making the swap tax-exempt.
April 04, 2024
Parliament Committee Delaying Vote On EU Energy Tax Law

A European Parliament committee will delay a vote on a landmark energy taxation law, as it is unclear if a majority will back the measure, a European Union source familiar with the matter told Law360 on Thursday.
April 04, 2024
Next EU Parliament Must Eye Tax Fairness, Lawmaker Says

The new European Parliament that is elected in June must continue to work on fairness in taxation, removing tax barriers to economic growth and scrutiny of international tax policies, the outgoing chair of the parliamentary tax subcommittee said Thursday.

Expert Analysis

10 Considerations For Litigating A New York Tax Case

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

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

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

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

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

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

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.
Legal Profession Gender Parity Requires Equal Parental Leave

To truly foster equity in the legal profession and to promote attorney retention, workplaces need to better support all parents, regardless of gender — starting by offering equal and robust parental leave to both birthing and non-birthing parents, says Ali Spindler at Irwin Fritchie.
A Year-End Look At Florida's Capital Investment Tax Credit

Notwithstanding the Walt Disney Co.’s feud with Gov. Ron DeSantis this year, Florida's capital investment tax credit will continue to make the state a favored destination for large corporations, particularly in light of the new federal alternative minimum tax and the Pillar Two top-up tax, says Alan Lederman at Gunster.
Understanding Discovery Obligations In Era Of Generative AI

Excerpt from Practical Guidance

Attorneys and businesses must adapt to the unique discovery challenges presented by generative artificial intelligence, such as chatbot content and prompts, while upholding the principles of fairness, transparency and compliance with legal obligations in federal civil litigation, say attorneys at King & Spalding.
The Case For Post-Bar Clerk Training Programs At Law Firms

In today's competitive legal hiring market, an intentionally designed training program for law school graduates awaiting bar admission can be an effective way of creating a pipeline of qualified candidates, says Brent Daub at Gilson Daub.
AI Can Help Lawyers Overcome The Programming Barrier

Legal professionals without programming expertise can use generative artificial intelligence to harness the power of automation and other technology solutions to streamline their work, without the steep learning curve traditionally associated with coding, says George Zalepa at Greenberg Traurig.
Preparing Law Students For A New, AI-Assisted Legal World

As artificial intelligence rapidly transforms the legal landscape, law schools must integrate technology and curricula that address AI’s innate challenges — from ethics to data security — to help students stay ahead of the curve, say Daniel Garrie at Law & Forensics, Ryan Abbott at JAMS and Karen Silverman at Cantellus Group.