International

  • November 06, 2024

    Portugal Implements Global Min. Tax After EU Pressure

    Portugal officially implemented the global corporate minimum tax spearheaded by the Organization for Economic Cooperation and Development following pressure from the European Union to join the majority of the bloc in doing so.

  • 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.

Expert Analysis

  • State Of The States' AI Legal Ethics Landscape

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    Over the past year, several state bar associations, as well as the American Bar Association, have released guidance on the ethical use of artificial intelligence in legal practice, all of which share overarching themes and some nuanced differences, say Eric Pacifici and Kevin Henderson at SMB Law Group.

  • 8 Childhood Lessons That Can Help You Be A Better Attorney

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    A new school year is underway, marking a fitting time for attorneys to reflect on some fundamental life lessons from early childhood that offer a framework for problems that no legal textbook can solve, say Chris Gismondi and Chris Campbell at DLA Piper.

  • This Election, We Need To Talk About Court Process

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    In recent decades, the U.S. Supreme Court has markedly transformed judicial processes — from summary judgment standards to notice pleadings — which has, in turn, affected individuals’ substantive rights, and we need to consider how the upcoming presidential election may continue this pattern, says Reuben Guttman at Guttman Buschner.

  • Mental Health First Aid: A Brief Primer For Attorneys

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    Amid a growing body of research finding that attorneys face higher rates of mental illness than the general population, firms should consider setting up mental health first aid training programs to help lawyers assess mental health challenges in their colleagues and intervene with compassion, say psychologists Shawn Healy and Tracey Meyers.

  • The Trade And Tax Issues Behind US-Canada Digital Tax Clash

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    The new Canadian digital services tax recently went into effect despite objections from the U.S., a controversy that represents an unusual mix of trade and tax policy, and many companies have been pondering how it will affect their e-commerce businesses, says Damon Pike at BDO.

  • Litigation Inspiration: Honoring Your Learned Profession

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    About 30,000 people who took the bar exam in July will learn they passed this fall, marking a fitting time for all attorneys to remember that they are members in a specialty club of learned professionals — and the more they can keep this in mind, the more benefits they will see, says Bennett Rawicki at Hilgers Graben.

  • AI May Limit Key Learning Opportunities For Young Attorneys

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    The thing that’s so powerful about artificial intelligence is also what’s most scary about it — its ability to detect patterns may curtail young attorneys’ chance to practice the lower-level work of managing cases, preventing them from ever honing the pattern recognition skills that undergird creative lawyering, says Sarah Murray at Trialcraft.

  • Ruling On Foreign Dividend Break Offers 2 Tax Court Insights

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    In Varian v. Commissioner, the U.S. Tax Court allowed a taxpayer's deduction for dividends from foreign subsidiaries, providing clarity on how the U.S. Supreme Court’s Loper Bright decision may affect challenges to Treasury regulations, and revealing a potential disallowance of foreign tax credits, say attorneys at Davis Polk.

  • Why Now Is The Time For Law Firms To Hire Lateral Partners

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    Partner and associate mobility data from the second quarter of this year suggest that there's never been a better time in recent years for law firms to hire lateral candidates, particularly experienced partners — though this necessitates an understanding of potential red flags, say Julie Henson and Greg Hamman at Decipher Investigative Intelligence.

  • Considering Possible PR Risks Of Certain Legal Tactics

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    Disney and American Airlines recently abandoned certain litigation tactics in two lawsuits after fierce public backlash, illustrating why corporate counsel should consider the reputational implications of any legal strategy and partner with their communications teams to preempt public relations concerns, says Chris Gidez at G7 Reputation Advisory.

  • It's No Longer Enough For Firms To Be Trusted Advisers

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    Amid fierce competition for business, the transactional “trusted adviser” paradigm from which most firms operate is no longer sufficient — they should instead aim to become trusted partners with their most valuable clients, says Stuart Maister at Strategic Narrative.

  • Navigating A Potpourri Of Possible Transparency Act Pitfalls

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    Despite the Financial Crimes Enforcement Network's continued release of guidance for complying with the Corporate Transparency Act, its interpretation remains in flux, making it important for companies to understand potentially problematic areas of ambiguity in the practical application of the law, say attorneys at Sidley.

  • How Methods Are Evolving In Textualist Interpretations

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    Textualists at the U.S. Supreme Court are increasingly considering new methods such as corpus linguistics and surveys to evaluate what a statute's text communicates to an ordinary reader, while lower courts even mull large language models like ChatGPT as supplements, says Kevin Tobia at Georgetown Law.

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