International

  • October 03, 2024

    Aerospace Co. Says Conn. Town Wrongly Taxed $8M In Assets

    A unit of a U.K.-based aerospace manufacturer is claiming that a Connecticut town overvalued its taxable personal property by nearly $8 million after the company moved nearly $20 million worth of its property out of the jurisdiction, according to a suit filed in state court.

  • October 03, 2024

    Tax Could Help Curtail Plastic Pollution By 2040, OECD Says

    Taxation targeted at plastic use could help to nearly eliminate plastic pollution by 2040 by curbing both creation and consumption, the Organization for Economic Cooperation and Development said.

  • October 03, 2024

    EU, Norway Update VAT Fraud Cooperation Agreement

    The European Union and Norway have amended their agreement on administrative cooperation to help combat value-added tax fraud as well as the recovery of claims, the European Commission announced.

  • October 03, 2024

    EU Refers 4 Countries To Court Over Pillar 2 Delays

    The European Commission said it was referring Cyprus, Poland, Portugal and Spain to the European Union's top court for missing the deadline to implement the global minimum corporate tax, known as Pillar Two.

  • October 02, 2024

    BlackBerry's $17M In R&D Not Taxable, Canada Court Rules

    BlackBerry Ltd. won't pay taxes on $17.1 million in research and development services it procured from its U.S. affiliates because the services don't fit the definition of foreign accrual property income, the Tax Court of Canada ruled.

  • October 02, 2024

    Philippines Enacts 12% VAT On Foreign Digital Services

    Google, Amazon and Netflix are among the companies expected to pay a 12% value-added tax on foreign digital service providers that was signed into law Wednesday by Philippines President Ferdinand Marcos Jr., according to government agencies.

  • October 02, 2024

    IRS Says European Energy Exchange Is A Qualified Exchange

    The European Energy Exchange is a qualified board or exchange for purposes of mark-to-market contracts under Internal Revenue Code Section 1256(g)(7)(C), the Internal Revenue Service said Wednesday. 

  • October 02, 2024

    OECD Releases Crypto Data-Swap Guidance For Tax Agencies

    The Organization for Economic Cooperation and Development released guidance Wednesday to help tax administrations automatically exchange information under a new global crypto-asset reporting framework and under an updated system for swapping traditional financial data.

  • October 02, 2024

    Mongolia Ratifies OECD Tax Treaty Standards

    Mongolia 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.

  • October 02, 2024

    4 Arrested In €97M VAT Fraud Involving Phone Service

    Four people were arrested in Italy for their suspected roles in a value-added tax fraud scheme involving services that let users make phone calls via the internet that sought to claim over €97 million ($107 million) in fraudulent refunds, the European Public Prosecutor's Office said Wednesday.

  • October 02, 2024

    Canada Finalizes Surtax List For Chinese Steel, Aluminum

    Canada's Department of Finance issued its finalized list of Chinese-made steel and aluminum products that will be hit with a 25% surtax when imported into the country starting later this month.

  • October 01, 2024

    Tax Deadlines Extended For Victims Of Israel-Hamas War

    The Internal Revenue Service said Tuesday that it will postpone tax return and payment deadlines to Sept. 30, 2025, for those affected by the Israel-Hamas war across 2023 and 2024.

  • October 01, 2024

    Amgen Must Face Suit It Misled Investors On $10.7B Tax Bill

    Amgen lost an attempt to escape a potential class action claiming the pharmaceutical giant hid a $10.7 billion tax bill from investors after a New York federal court ruled there was sufficient evidence for the action to proceed.

  • October 01, 2024

    Ex-USTR Official Sees Possible Path Forward For Digital Taxes

    The U.S. may withhold trade threats if it believes countries are having good-faith conversations about concerns that their digital services taxes discriminate against U.S. businesses, including in current talks with Canada, the former general counsel for the Office of the U.S. Trade Representative told Law360.

  • October 01, 2024

    Ireland Eyes Infrastructure With €14B From ECJ Apple Case

    The Irish government is aiming to build infrastructure with the €14.1 billion ($15.6 billion) in corporate tax payments due from Apple Inc. following a European Court of Justice ruling that Ireland granted Apple illegal state aid, officials said Tuesday in announcing next year's budget.

  • October 01, 2024

    EU Chief Prosecutor Calls For Making Tax Fraud A Priority

    As organized crime rings continue to affect the European Union budget through "massive" value-added tax and customs fraud schemes, more must be done to support the European Public Prosecutor's Office and its power to investigate such crimes, the European chief prosecutor said in remarks published Tuesday.

  • October 01, 2024

    Treasury Plans Final Direct Pay Partnership Regs By Year-End

    The U.S. Treasury Department is eyeing the end of the year to finalize regulations for development projects to elect out of their partnership tax status to qualify for a direct cash payment of their clean energy tax credits, an official said Tuesday.

  • October 01, 2024

    EU General Court To Begin Hearing VAT Cases

    The European Union General Court can make preliminary rulings in cases involving the EU's common system of value-added taxes, effective Tuesday, as part of an expansion of the court's jurisdiction.

  • October 01, 2024

    UK Tax Havens Tied To $84B In Lost Revenue, Group Says

    The British Virgin Islands, Cayman Islands and Bermuda held on to their spots atop the Tax Justice Network's tax havens list, with the group saying Tuesday that the U.K.'s tax havens network is responsible for a third of global corporate tax abuse risks.

  • October 01, 2024

    Estate Exaggerating Value Of Exec's Tax Tipoff, DC Circ. Told

    A Dutch bank executive's estate is "vastly" overstating the significance of his tips to the IRS in seeking a whistleblower award for his reporting of tax schemes, the U.S. government told the D.C. Circuit, urging it to uphold the U.S. Tax Court's denial of the award.

  • September 30, 2024

    Corporate Tax Rates Up In 2023, OECD Annual Report Finds

    A global trend toward cutting taxes to address the economics of the COVID-19 pandemic began to wane in 2023, with more nations willing to raise taxes and broaden tax bases to fund social spending, the Organization of Economic Cooperation and Development said Monday.

  • September 30, 2024

    PwC Agrees To $63M Fine For Evergrande Audit, China Says

    PwC's chairman agreed to the firm's six-month suspension in China and nearly $63 million in fines over its Chinese auditing arm's work for Evergrande Group, which until a court-ordered liquidation in January was the country's largest real estate firm, the country's Finance Ministry said Monday.

  • September 30, 2024

    IRS Seeks Input On Draft Partnership Basis-Shifting Form

    The Internal Revenue Service asked for comments Monday on a draft form and instructions for partners to disclose all the property they receive from partnerships, part of upcoming regulations meant to target abusive tax avoidance that uses sophisticated partnership basis-shifting transactions.

  • September 30, 2024

    German Lawyer Charged Over €428M Cum-Ex Fraud

    A lawyer has been charged in Germany with several counts of "serious tax evasion" over his alleged role in a €428 million ($477 million) so-called cum-ex dividend tax fraud, a German court confirmed Monday.

  • September 30, 2024

    Feds Seek Prison In Tax Case Linked To 'China Initiative'

    Prosecutors have asked a Texas federal judge for an 18- to 24-month prison sentence for a Chinese-born engineer who pled guilty to tax crimes after being charged with export violations and fraud in a case the defense claims began as an espionage investigation under the U.S. Department of Justice's now-disbanded "China Initiative."

Expert Analysis

  • 3 Leadership Practices For A More Supportive Firm Culture

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    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

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    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

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    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

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    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

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    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

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    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

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    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

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    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

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    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

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    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.

  • Now More Than Ever, Lawyers Must Exhibit Professionalism

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    As society becomes increasingly fractured and workplace incivility is on the rise, attorneys must champion professionalism and lead by example, demonstrating how lawyers can respectfully disagree without being disagreeable, says Edward Casmere at Norton Rose.

  • 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.

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