International

  • November 06, 2024

    EU Court Won't Toss Commission's Tax Clawback In Portugal

    A European Union court on Wednesday tossed two challenges to a European Commission ruling that Portugal must claw back tax breaks provided to companies with no local economic activity because that ran counter to commission-approved policies.

  • November 06, 2024

    Gov't Urges 11th Circ. To Rethink FBAR Excessive Fine Ruling

    The Eleventh Circuit should reconsider its decision that some of the $12.6 million in penalties the Internal Revenue Service imposed on a man for willfully failing to report his foreign bank accounts violated the Eighth Amendment's bar on excessive fines, the U.S. government said.

  • November 06, 2024

    Hedge Fund Lawyer Defends Signing Off On £1.4B Fraud Docs

    The former top lawyer at a hedge fund accused of defrauding Denmark's tax authority of £1.4 billion ($1.8 billion), who signed off on documents falsely confirming the trades were legitimate, told a London trial he didn't think it "was a big deal at the time."

  • November 06, 2024

    Improved Carbon Measuring Could Guide Taxes, OECD Says

    Measuring the carbon intensity of products can help countries design taxes to push toward emission-reduction goals, but countries need to work together to develop more accurate and specific measurements to make them more effective, the Organization for Economic Cooperation and Development said.

  • November 06, 2024

    UK Considering Tweaks To Global Minimum Tax

    The U.K. is looking at tweaks to its implementation of the OECD's global minimum tax on large multinational entities that HM Revenue & Customs said Wednesday will address concerns from stakeholders and bring it in line with updated guidance.

  • November 06, 2024

    UK VAT Collection Up £9B In 2023-24, A 6% Boost

    The U.K.'s value-added tax revenue increased to £169 billion ($218 billion) in financial year 2023-24, a 6% rise over the £160 billion generated the year prior, HM Revenue & Customs said Wednesday, despite a net drop in registered VAT entities.

  • November 06, 2024

    Rachel Reeves Calls Budget A 'Once In A Parliament' Reset   

    Chancellor Rachel Reeves told lawmakers on Wednesday that her inaugural budget in October was a "once in a Parliament" reset and that her government would not set out fiscal proposals of a similar scale again.

  • November 05, 2024

    Trump Victory Boosts GOP Push To Extend 2017 Tax Law

    Former President Donald Trump's projected reelection early Wednesday gave GOP lawmakers a strong boost in their efforts to renew major parts of the 2017 tax law that will expire next year, further dimming Democrats' hopes of promoting tax fairness by increasing rates on wealthy corporations and individuals.

  • November 05, 2024

    Trump Has Official Immunity. What About His Aides?

    Whether the U.S. Supreme Court's decision on presidential immunity extends to subordinates who follow a president's orders has become a more pressing question in the wake of Donald Trump's projected election win, according to legal experts.

  • November 05, 2024

    How Trump Can Quash His Criminal Cases

    Donald Trump's projected victory at the polls also translates to a win in the courts, as the second-term president will have the power to end both of his federal criminal cases. And the U.S. Supreme Court's decision on presidential immunity would shield him from any consequences for ordering his charges to be dismissed, experts say.

  • November 05, 2024

    An Early Look At Trump's Supreme Court Shortlist

    With former President Donald Trump projected to win the 2024 presidential election and the Republicans' success in securing the U.S. Senate majority, Trump may now get the chance to appoint two more justices to the U.S. Supreme Court, cementing the court's conservative tilt for decades to come.

  • November 05, 2024

    GOP's Senate Win Hands Future Of The Judiciary To Trump

    Republicans were projected to take back the White House and Senate and possibly the House early Wednesday, putting the GOP in position to back Donald Trump's agenda and his slate of young, conservative judicial nominees. 

  • November 05, 2024

    The Firms With An Inside Track To A New Trump Admin

    Law firms that have represented Donald Trump and the Republican Party on everything from personal legal woes to election-related lawsuits could see the risks of that work pay dividends as Trump is projected to secure a second term in office.

  • November 05, 2024

    $2.2B Reorg Of UK Group Was Tax-Driven, Tribunal Says

    An agricultural company's £1.7 billion ($2.2 billion) purchase of shares between subsidiaries was primarily conducted to avoid taxes, not to reorganize its U.K. business structure, based on the reactions of its officials to the transaction, the First-tier Tribunal said.

  • November 05, 2024

    HMRC Tells High Court It Can Tax Canadian Bank's Oil Income

    HM Revenue & Customs has the right to tax loan payments made to the Royal Bank of Canada relating to oil-drilling rights in the North Sea under the terms of a bilateral agreement, it told the British Supreme Court in the appeal of its case against the bank.

  • November 05, 2024

    Netflix Europe Offices Raided In Tax Fraud Probe

    French and Dutch authorities raided Netflix's offices in the two countries as part of an investigation into possible tax fraud by the streaming giant, news outlets reported Tuesday.

  • November 05, 2024

    Australia Clarifies Thin Capitalization Rules Interactions

    The Australian Taxation Office clarified that the country's new thin capitalization rules must be applied after both transfer pricing and debt deduction creation rules following amendments to the country's tax rules.

  • November 05, 2024

    Crypto Council Seeks Delay In Digital Asset Broker Regs

    The IRS should delay the effective date of a requirement in the digital assets broker regulations that calls for identifying units of the assets in the broker's custody until the agency clarifies the provision, a global council of cryptocurrency companies said in a letter released Tuesday.

  • November 05, 2024

    2nd Circ. Urged To Rethink Dual Citizen's FBAR Penalties

    A dual U.S.-French citizen found liable for tax penalties by the Second Circuit for hiding millions of dollars in foreign accounts asked the court Tuesday to reconsider, saying American authorities demanded she participate in a deposition that would have put her in legal jeopardy abroad.

  • November 05, 2024

    Sweden Exploring Tax Incentive For R&D

    Sweden is hoping to craft an internationally competitive research and development tax incentive and is looking to other countries in the European Union and the Organization for Economic Cooperation and Development for inspiration, its Ministry of Finance said.

  • November 05, 2024

    Japan, Greece Tax Treaty To Take Effect In December

    The Japanese and Greek governments agreed Tuesday in Athens that their tax treaty will enter into force in 30 days and will impact taxes levied on financial accounting years beginning next year, the Japanese Ministry of Finance said in a news release.

  • November 05, 2024

    On The Ground: How Attorneys Safeguarded The Election

    Attorneys worked tirelessly Tuesday to support citizens and election workers on the final day of voting in one of history's most contentious presidential contests.

  • November 05, 2024

    EU Secures VAT Reform Deal To Fit Digital Economy

    The European Union is preparing to adapt the bloc's value-added tax rules for the growing digital economy, including e-invoicing on cross-border transactions, after a long-awaited agreement announced Tuesday.

  • November 04, 2024

    2nd Circ. Rejects Man's Challenge To IRS Lien For $4.2M

    The U.S. Tax Court correctly found that the IRS appeals office didn't abuse its powers by approving the agency's federal tax lien to collect $4.2 million from a man with a court-ordered payment plan, the Second Circuit said.

  • November 04, 2024

    Kenya Eyes 300% Tax Increase In Digital Tax Expansion

    Kenya is looking at replacing its 1.5% digital services tax with a 6% levy aimed at the country-sourced revenue of a wider set of nonresident digital service providers, including apps for ride-hailing and food delivery, according to a report by the country's Finance Ministry.

Expert Analysis

  • How Justices Upended The Administrative Procedure Act

    Author Photo

    In its recent Loper Bright, Corner Post and Jarkesy decisions, the U.S. Supreme Court fundamentally changed the Administrative Procedure Act in ways that undermine Congress and the executive branch, shift power to the judiciary, curtail public and business input, and create great uncertainty, say Alene Taber and Beth Hummer at Hanson Bridgett.

  • Tips For Tax Equity-Tax Credit Transfers That Pass IRS Muster

    Author Photo

    Although the Internal Revenue Service has increased its scrutiny of complex partnership structures, which must demonstrate their economic substance and business purpose, recent cases and IRS guidance together provide a reliable road map for creating legitimate tax equity structures, say Ian Boccaccio and Michael Messina at Ryan Tax.

  • Mirror, Mirror On The Wall, Is My Counterclaim Bound To Fall?

    Author Photo

    A Pennsylvania federal court’s recent dismissal of the defendants’ counterclaims in Morgan v. Noss should remind attorneys to avoid the temptation to repackage a claim’s facts and law into a mirror-image counterclaim, as this approach will often result in a waste of time and resources, says Matthew Selmasska at Kaufman Dolowich.

  • 3 Leadership Practices For A More Supportive Firm Culture

    Author Photo

    Traditional leadership styles frequently amplify the inherent pressures of legal work, but a few simple, time-neutral strategies can strengthen the skills and confidence of employees and foster a more collaborative culture, while supporting individual growth and contribution to organizational goals, says Benjamin Grimes at BKG Leadership.

  • E-Discovery Quarterly: Rulings On Hyperlinked Documents

    Author Photo

    Recent rulings show that counsel should engage in early discussions with clients regarding the potential of hyperlinked documents in electronically stored information, which will allow for more deliberate negotiation of any agreements regarding the scope of discovery, say attorneys at Sidley.

  • Loper Bright Limits Federal Agencies' Ability To Alter Course

    Author Photo

    The U.S. Supreme Court's recent decision to dismantle Chevron deference also effectively overrules its 2005 decision in National Cable & Telecommunications Association v. Brand X, greatly diminishing agencies' ability to change regulatory course from one administration to the next, says Steven Gordon at Holland & Knight.

  • After Chevron: Delegation Of Authority And Tax Regulators

    Author Photo

    The U.S. Department of the Treasury and the Internal Revenue Service will face higher standards following Loper Bright’s finding that courts should determine whether agency rules meet the best possible interpretation of the tax code, as well as the scope of the authority delegated by Congress, says Edward Froelich at McDermott.

  • Lawyers Can Take Action To Honor The Voting Rights Act

    Author Photo

    As the Voting Rights Act reaches its 59th anniversary Tuesday, it must urgently be reinforced against recent efforts to dismantle voter protections, and lawyers can pitch in immediately by volunteering and taking on pro bono work to directly help safeguard the right to vote, says Anna Chu at We The Action.

  • How To Grow Marketing, Biz Dev Teams In A Tight Market

    Author Photo

    Faced with fierce competition and rising operating costs, firms are feeling the pressure to build a well-oiled marketing and business development team that supports strategic priorities, but they’ll need to be flexible and creative given a tight talent market, says Ben Curle at Ambition.

  • Rock Climbing Makes Me A Better Lawyer

    Author Photo

    Rock climbing requires problem-solving, focus, risk management and resilience, skills that are also invaluable assets in my role as a finance lawyer, says Mei Zhang at Haynes and Boone.

  • Contract Disputes Recap: Preserving Payment Rights

    Author Photo

    Stephanie Magnell and Zachary Jacobson at Seyfarth examine three recent decisions that together illustrate the importance of keeping accurate records and adhering to contractual procedures to avoid inadvertently waiving contractual rights to cost reimbursements or nonroutine payments.

  • Think Like A Lawyer: Dance The Legal Standard Two-Step

    Author Photo

    From rookie brief writers to Chief Justice John Roberts, lawyers should master the legal standard two-step — framing the governing standard at the outset, and clarifying why they meet that standard — which has benefits for both the drafter and reader, says Luke Andrews at Poole Huffman.

  • Lead Like 'Ted Lasso' By Embracing Cognitive Diversity

    Author Photo

    The Apple TV+ series “Ted Lasso” aptly illustrates how embracing cognitive diversity can be a winning strategy for teams, providing a useful lesson for law firms, which can benefit significantly from fresh, diverse perspectives and collaborative problem-solving, says Paul Manuele at PR Manuele Consulting.

Can't find the article you're looking for? Click here to search the Tax Authority International archive.