Tax Law360 provides breaking news and analysis on federal, state, and international tax law, with a focus on business enterprises. Coverage includes high-stakes litigation, government enforcement actions, and auditing issues, as well as related policy developments.
Mining company Rio Tinto and Mongolia could be headed for international arbitration after the company's Canadian subsidiary filed a formal notice of dispute regarding the valuation of a copper mine on the southeastern border, a move that gives the parties several months to resolve the country's recent claim that it's owed $155 million in back taxes.
A New York federal judge ruled Monday that Alcoa Inc. shouldn’t have to foot a $10 million Chilean tax bill for Rank Group Ltd. following its $2.7 billion purchase of Alcoa’s packaging business, finding Rank incurred the tax by not paying off a loan it acquired in the deal.
British lawyer Michael Little told a Manhattan jury Monday he is the “scapegoat” for the family of deceased investor Harry Seggerman, defending himself against charges that he helped his client’s heirs dodge taxes on $14 million of inheritance money and dodged his own tax bills to boot.
A U.S. Tax Court ruling denying a Connecticut woman's bid to reclaim her overpayment in a case of first impression led to an “absurd” result and must be overturned, according to an amicus brief filed in the Second Circuit Friday by two tax professors.
A businessman still owes capital gains tax on his holdings despite moving from France to Switzerland, the European Court of Justice ruled, finding that the agreement allowing for free movement between the European Union and Switzerland did not apply or supersede French law.