Judges for the Eleventh Circuit probed attorneys for Coca-Cola and the government Thursday about whether the IRS was arbitrary in abandoning its position in a closing agreement the beverage company had relied on for decades to calculate its transfer prices with related foreign suppliers.
Judges for the Eleventh Circuit probed attorneys for Coca-Cola and the government Thursday about whether the IRS was arbitrary in abandoning its position in a closing agreement the beverage company had relied on for decades to calculate its transfer prices with related foreign suppliers.
A baby formula manufacturer cannot yet challenge a European Commission investigation into whether Gibraltar's government granted the business illegal tax advantages, a senior adviser at the European Court of Justice found Thursday.
The European Union granted final approval Thursday to its modified version of a trade deal with the U.S. that will cut tariff rates on U.S. goods, albeit with guardrails.
Switzerland's agreement to automatically exchange information between tax authorities in the European Union is poised to come under updated OECD standards after the government's executive branch recommended that lawmakers adopt amendments.
Sixty percent of OECD governments' support for corporate research and development costs took the form of tax incentives in 2024, more than double the share from two decades ago, the organization said Thursday in a report.
The IRS is "embracing" artificial intelligence to help with taxpayer compliance, such as using the technology to detect patterns and identify fraud, while at the same time working with guardrails to protect private information, an agency official said Thursday.
