International
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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January 06, 2025
HMRC Faces £20M Libel Case Over Asahi Cargo Fraud Report
A British logistics company has sued HM Revenue and Customs for as much as £20 million ($25 million), alleging that the tax authority damaged its business by falsely accusing it of dodging tax on shipments of Asahi beer.
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January 03, 2025
Potomac Law Group Adds Longtime Tax Leader From Day Pitney
After an end-of-the-year hiring spree in which Potomac Law Group added four former Rimon PC attorneys, PLG has started 2025 by adding the former leader of Day Pitney's multistate tax practice to its ranks.
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January 03, 2025
Trump Taps Former Hill Staffer For Assistant Tax Policy Role
President-elect Donald Trump has tapped a longtime tax policy lobbyist to serve as the assistant secretary for tax policy at the U.S. Department of the Treasury during his coming second term.
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January 03, 2025
Kuwait Implements Global Minimum Tax Starting This Year
Large multinational entities in Kuwait making over €750 million ($773 million) annually are now subject to the OECD's 15% corporate global minimum income tax, the country's Ministry of Finance said.
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January 03, 2025
Investment Firm Calls On UK To Rule Out Pension Tax Hikes
The U.K. should pledge no changes to pension tax benefits for the next four years to assuage consumer fears of the government following up on hikes to other taxes with more increases, according to a survey by an investment firm.
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January 03, 2025
Germany Suspends Tax Treaty With Belarus
The German government suspended its treaty to avoid double taxation with Belarus as of the new year following Belarus' move to suspend portions of the agreement in June, the German Federal Ministry of Finance said.
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January 03, 2025
UK Levy Hike Drives Labor Costs Up In 2025, Think Tank Says
U.K. businesses are facing a spike in labor costs, thanks to the government's decision to raise employers' National Insurance contributions, a payroll levy used to fund social programs, a think tank said Friday.
Expert Analysis
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Former Minn. Chief Justice Instructs On Writing Better Briefs
Former Minnesota Supreme Court Chief Justice Lorie Gildea, now at Greenberg Traurig, offers strategies on writing more effective appellate briefs from her time on the bench.
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Stay Interviews Are Key To Retaining Legal Talent
Even as the economy shifts and layoffs continue, law firms still want to retain their top attorneys, and so-called stay interviews — informal conversations with employees to identify potential issues before they lead to turnover — can be a crucial tool for improving retention and morale, say Tina Cohen Nicol and Kate Reder Sheikh at Major Lindsey.
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Neb. Justices Should Weigh IRC Terms In Dividend Tax Case
Nebraska’s highest court, which will hear oral arguments in Precision CastParts v. Department of Revenue on April 1, should recognize that the Internal Revenue Code provides key clues to defining “dividends received or deemed to be received,” and therefore limits Nebraska’s tax on foreign-sourced corporate income, says Joseph Schmidt at Ryan.
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Judicial Independence Is Imperative This Election Year
As the next election nears, the judges involved in the upcoming trials against former President Donald Trump increasingly face political pressures and threats of violence — revealing the urgent need to safeguard judicial independence and uphold the rule of law, says Benes Aldana at the National Judicial College.
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Spartan Arbitration Tactics Against Well-Funded Opponents
Like the ancient Spartans who held off a numerically superior Persian army at the Battle of Thermopylae, trial attorneys and clients faced with arbitration against an opponent with a bigger war chest can take a strategic approach to create a pass to victory, say Kostas Katsiris and Benjamin Argyle at Venable.
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What Recent Study Shows About AI's Promise For Legal Tasks
Amid both skepticism and excitement about the promise of generative artificial intelligence in legal contexts, the first randomized controlled trial studying its impact on basic lawyering tasks shows mixed but promising results, and underscores the need for attorneys to proactively engage with AI, says Daniel Schwarcz at University of Minnesota Law School.
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How FinCEN Proposal Expands RE Transaction Obligations
Against a regulatory backdrop foreshadowing anti-money laundering efforts in the real estate sector, the Financial Crimes Enforcement Network's proposed rule significantly expands reporting requirements for certain nonfinanced residential real estate transfers and necessitates careful review, say attorneys at Fried Frank.
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Litigation Inspiration: A Source Of Untapped Fulfillment
As increasing numbers of attorneys struggle with stress and mental health issues, business litigators can find protection against burnout by remembering their important role in society — because fulfillment in one’s work isn’t just reserved for public interest lawyers, say Bennett Rawicki and Peter Bigelow at Hilgers Graben.
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Unpacking FinCEN's Proposed Real Estate Transaction Rule
Phil Jelsma and Ulrick Matsunaga at Crosbie Gliner take a close look at the Financial Crimes Enforcement Network's recently proposed rulemaking — which mandates new disclosures for professionals involved in all-cash real estate deals — and discuss best next steps for the broad range of businesses that could be affected.
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Think Like A Lawyer: Forget Everything You Know About IRAC
The mode of legal reasoning most students learn in law school, often called “Issue, Rule, Application, Conclusion,” or IRAC, erroneously frames analysis as a separate, discrete step, resulting in disorganized briefs and untold obfuscation — but the fix is pretty simple, says Luke Andrews at Poole Huffman.
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How New EU Tax And Transfer Pricing Rules May Affect M&A
Companies involved in mergers and acquisitions may need to adjust fiscal due diligence procedures to ensure they consider potential far-reaching effects of newly implemented transfer pricing measures, such as newly implemented global minimum tax and European Union anti-tax avoidance directives and proposals, says Patrick Tijhuis at BDO.
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How Firms Can Ensure Associate Gender Parity Lasts
Among associates, women now outnumber men for the first time, but progress toward gender equality at the top of the legal profession remains glacially slow, and firms must implement time-tested solutions to ensure associates’ gender parity lasts throughout their careers, say Kelly Culhane and Nicole Joseph at Culhane Meadows.
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7 Common Myths About Lateral Partner Moves
As lateral recruiting remains a key factor for law firm growth, partners considering a lateral move should be aware of a few commonly held myths — some of which contain a kernel of truth, and some of which are flat out wrong, says Dave Maurer at Major Lindsey.