International

  • August 09, 2024

    IRS Wrongly Penalizes For Unreported Inheritance, Court Told

    The Internal Revenue Service violated the constitutional rights of a California woman when penalizing her $92,000 for failing to report inheriting $350,000 from a parent who had lived in the U.K., the woman told a federal court.

  • August 09, 2024

    Israel Resident Says She Was Never Notified Of $9M Tax Debt

    The daughter of a dead Brooklyn rabbi was a permanent resident of Israel in the early years of this century and never received IRS notices about $9.2 million in taxes and penalties, she told a New York court Friday in arguing that she doesn't owe the money.

  • August 09, 2024

    AI Helped Uncover €185M In Austrian Tax Revenue In 2023

    A special unit in Austria's Ministry of Finance used an artificial intelligence tool to help discover tax fraud cases, generating roughly €185 million ($202 million) in tax revenue in 2023, the ministry said Friday.

  • August 09, 2024

    Bermuda Seeks Comments On Administration Of Minimum Tax

    Bermuda is looking for comments on proposed administrative changes that would accompany its implementation of the OECD's 15% global corporate minimum tax on large multinational entities, including how in-scope businesses will register with the country's new Corporate Income Tax Agency.

  • August 09, 2024

    3 Indicted On Charges Of Leading €93M VAT Fraud Scheme

    Three people suspected of heading a criminal scheme that carried out €93 million ($102 million) in value-added tax fraud involving primarily Apple AirPods have been indicted in Germany, the European Public Prosecutor's Office said Friday.

  • August 09, 2024

    Australia Seeks To Take Pepsi Royalty Tax Fight To Top Court

    The Australian Taxation Office asked the country's top court for permission to appeal a decision that payments between PepsiCo subsidiaries did not qualify for royalty withholding tax or diverted profits tax, according to a news release Friday.

  • August 09, 2024

    What Books Tax Pros Recommend For This Summer

    As practitioners monitor the tax implications of the U.S. presidential election as well as what might come out of the next European Commission, they may want to take a break with a good book. Here, Law360 takes a look at tax specialists' summer reading recommendations.

  • August 09, 2024

    Taxation With Representation: Latham, Freshfields, Wachtell

    In this week's Taxation With Representation, Quantum Capital Group agrees to a roughly $3 billion deal for Cogentrix Energy, Apax Partners LLP is acquiring Thoughtworks for roughly $1.75 billion, and Mallinckrodt inks a $925 million deal for Therakos.

  • August 08, 2024

    Cayman Co. Owes Tax On Partners' Income, Tax Court Says

    A Cayman Islands partnership is liable for withholding taxes on the share of about $24.8 million in income from its U.S. operations that was allocated to its foreign partners through special purpose vehicles, the U.S. Tax Court said Thursday.

  • August 08, 2024

    Judge In HMRC Case Won't Step Aside Over 'Scurrilous' Claim

    A London judge has refused to recuse himself from litigation involving HM Revenue & Customs because of apparent bias and institutional corruption owing to his former connection to the department, finding some of the allegations "frankly scurrilous."

  • August 08, 2024

    Nixon Peabody Hires Community Development Counsel In DC

    When Steven Feenstra, the newest member of Nixon Peabody LLP's the community development finance practice, visited a client's office some 25 years ago, the photos of the community housing projects the client had helped develop made a lasting impression on him, he told Law360 Pulse in an interview Thursday.

  • August 08, 2024

    UK, Ecuador Agree To Double-Tax Treaty

    HM Revenue & Customs published a newly agreed-upon treaty to prevent double taxation between the U.K. and Ecuador on Thursday, which would come into force after approval by both countries' legislatures.

  • August 08, 2024

    Italy Doubles Flat Tax On Nondomiciled To €200K

    Individuals who transfer their tax residence to Italy will now pay a €200,000 ($218,000) flat tax in lieu of other taxes on their foreign income instead of €100,000, the Italian government announced.

  • August 08, 2024

    EU Commission Will Visit Nations To Discuss Capital Markets

    European Commission officials plan to visit member countries beginning in the fall to discuss integrating the European Union's capital markets, which could involve tax law changes, the commission said Thursday.

  • August 08, 2024

    UK Gov't Refunds £57M In Pension Freedoms Overtaxation

    The government has been forced to repay £59.6 million ($75.5 million) in the three months between April and June to people who overpaid tax after they tapped into their pensions for the first time, according to HM Revenue and Customs.

  • August 07, 2024

    Weak Link Doomed $690M Whistleblower Claim, DC Circ. Says

    A whistleblower could not get up to $690 million, or 30% of the $2.3 billion collected in an Internal Revenue Service offshore voluntary disclosure program, because the connection between his actions and the program was weak, the D.C. Circuit said Wednesday.

  • August 07, 2024

    EU Seeking Members For Financial Advisory Board

    The European Commission put out a call Wednesday for applications from experts interested in taking over roles on the five-person European Fiscal Board, which advises the commission on certain European Union fiscal operations.

  • August 07, 2024

    Pension Plans' Expert Testimony Limited In $2B Tax Fraud Suit

    A New York federal court decided to exclude portions of an expert's testimony on behalf of pension plans that are accused of seeking to defraud Denmark's tax agency in a $2.1 billion tax refund fraud scheme.

  • August 07, 2024

    UN Economists Want Tax Talks To Address Transparency

    Governments should make tax transparency a top priority for the United Nations framework convention on international tax cooperation and create systems that benefit all countries, the organization's economists said Wednesday.

  • August 07, 2024

    Tax Court's Economic Substance Foray May Clarify Limits

    A U.S. Tax Court judge plans to address an ill-defined provision governing the relevance of the economic substance doctrine in a microcaptive insurance case, offering the courts another chance to clarify an anti-abuse tool the IRS has been deploying more often.

  • August 07, 2024

    Tripling UK's DST Would Cost US Cos. $4.4B, Report Says

    The Liberal Democrats' proposal to raise the U.K.'s digital services tax rate to 6% from 2% would cost U.S. companies up to $4.4 billion a year when accounting for the impact of passing on the costs, a business group said.

  • August 07, 2024

    Singapore's Carbon Tax Is Revenue-Neutral, Minister Says

    Singapore's carbon tax is expected to have a neutral impact on tax revenues over the next decade, even after accounting for a recent hike in the rate to SG$25 ($18.81) per metric ton of emissions, the country's environment minister said.

  • August 07, 2024

    HMRC To Publish More Pillar 2 Draft Guidance

    More guidance is coming for U.K. businesses that will need to comply with the country's implementation of the OECD's Pillar Two global minimum corporate tax rules, HM Revenue & Customs said.

  • August 07, 2024

    Tax On Workers, Families Focus Of Irish Budget, Minister Says

    Ireland's finance minister said Wednesday that a priority of the country's next budget will be addressing the tax burdens of families, workers and businesses, adding that the cost of living remains a serious issue.

  • August 07, 2024

    Lawyer Can't Sue Billionaire Hong Kong Bosses At UK Tribunal

    A lawyer cannot sue a wealthy Hong Kong family in England after she claimed she blew the whistle on potential tax evasion while she worked for them because she was based in the Chinese region while the saga unfolded, a tribunal has ruled.

Expert Analysis

  • Reading Between The Lines Of Justices' Moore Ruling

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    The U.S. Supreme Court's recent Moore v. U.S. decision, that the Internal Revenue Code Section 965 did not violate the 16th Amendment, was narrowly tailored to minimally disrupt existing tax regimes, but the justices' various opinions leave the door open to future tax challenges and provide clues for what the battles may look like, say Caroline Ngo and Le Chen at McDermott.

  • A Midyear Forecast: Tailwinds Expected For Atty Hourly Rates

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    Hourly rates for partners, associates and support staff continued to rise in the first half of this year, and this growth shows no signs of slowing for the rest of 2024 and into next year, driven in part by the return of mergers and acquisitions and the widespread adoption of artificial intelligence, says Chuck Chandler at Valeo Partners.

  • States Should Loosen Law Firm Ownership Restrictions

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    Despite growing buzz, normalized nonlawyer ownership of law firms is a distant prospect, so the legal community should focus first on liberalizing state restrictions on attorney and firm purchases of practices, which would bolster succession planning and improve access to justice, says Michael Di Gennaro at The Law Practice Exchange.

  • After Chevron: Uniform Tax Law Interpretation Not Guaranteed

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    The loss of Chevron deference will significantly alter the relationship between the IRS, courts and Congress when it comes to tax law, potentially precipitating more transparent rulemaking, but also provoking greater uncertainty due to variability in judicial interpretation, say Michelle Levin and Carneil Wilson at Dentons.

  • Texas Ethics Opinion Flags Hazards Of Unauthorized Practice

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    The Texas Professional Ethics Committee's recently issued proposed opinion finding that in-house counsel providing legal services to the company's clients constitutes the unauthorized practice of law is a valuable clarification given that a UPL violation — a misdemeanor in most states — carries high stakes, say Hilary Gerzhoy and Julienne Pasichow at HWG.

  • How To Clean Up Your Generative AI-Produced Legal Drafts

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    As law firms increasingly rely on generative artificial intelligence tools to produce legal text, attorneys should be on guard for the overuse of cohesive devices in initial drafts, and consider a few editing pointers to clean up AI’s repetitive and choppy outputs, says Ivy Grey at WordRake.

  • Industry Self-Regulation Will Shine Post-Chevron

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    The U.S. Supreme Court's Loper decision will shape the contours of industry self-regulation in the years to come, providing opportunities for this often-misunderstood practice, says Eric Reicin at BBB National Programs.

  • 3 Ways Agencies Will Keep Making Law After Chevron

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    The U.S. Supreme Court clearly thinks it has done something big in overturning the Chevron precedent that had given deference to agencies' statutory interpretations, but regulated parties have to consider how agencies retain significant power to shape the law and its meaning, say attorneys at K&L Gates.

  • Atty Well-Being Efforts Ignore Root Causes Of The Problem

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    The legal industry is engaged in a critical conversation about lawyers' mental health, but current attorney well-being programs primarily focus on helping lawyers cope with the stress of excessive workloads, instead of examining whether this work culture is even fundamentally compatible with lawyer well-being, says Jonathan Baum at Avenir Guild.

  • Unpacking The Circuit Split Over A Federal Atty Fee Rule

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    Federal circuit courts that have addressed Rule 41(d) of the Federal Rules of Civil Procedure are split as to whether attorney fees are included as part of the costs of a previously dismissed action, so practitioners aiming to recover or avoid fees should tailor arguments to the appropriate court, says Joseph Myles and Lionel Lavenue at Finnegan.

  • After A Brief Hiccup, The 'Rocket Docket' Soars Back To No. 1

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    The Eastern District of Virginia’s precipitous 2022 fall from its storied rocket docket status appears to have been a temporary aberration, as recent statistics reveal that the court is once again back on top as the fastest federal civil trial court in the nation, says Robert Tata at Hunton.

  • Recruitment Trends In Emerging Law Firm Frontiers

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    BigLaw firms are facing local recruitment challenges as they increasingly establish offices in cities outside of the major legal hubs, requiring them to weigh various strategies for attracting talent that present different risks and benefits, says Tom Hanlon at Buchanan Law.

  • How Associates Can Build A Professional Image

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    As hybrid work arrangements become the norm in the legal industry, early-career attorneys must be proactive in building and maintaining a professional presence in both physical and digital settings, ensuring that their image aligns with their long-term career goals, say Lana Manganiello at Equinox Strategy Partners and Estelle Winsett at Estelle Winsett Professional Image Consulting.

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