France Beats Discrimination Claims Over Gains Tax Breaks

By Kevin Pinner

The French government didn't discriminate by denying long-term capital gains tax deductions for securities transactions in mergers between French companies, despite the European Union providing more favorable treatment, the European Court of Human Rights said in a decision released Tuesday.

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Ruling Tariffs Unlawful Would 'Kneecap' Trump, Gov't Says

By Jared Foretek

A ruling from a D.C. federal judge invalidating the Trump administration's use of the International Emergency Economic Powers Act to impose sweeping global tariffs would "kneecap" the president and cause "diplomatic embarrassment," a government attorney told a Washington, D.C., federal judge in court Tuesday.

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15 EU States Seek To Fast-Track Tobacco Tax Reform Plans

By Josh White

Government officials representing 15 European Union member states called on the European Commission on Tuesday to fast-track plans to make changes to the bloc's tobacco tax policy.

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Customs Fraud Enforcement In The Age Of Tariffs

In the wake of the Trump administration’s new approach toward tariffs, two recent Justice Department developments demonstrate aggressive customs fraud enforcement, with the DOJ emphasizing competitive harm to American businesses, and signaling that investigations will likely involve both civil and criminal enforcement tools, say attorneys at Bernstein Litowitz and London & Naor.

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Canada Could Use Tax System For Growth, OECD Says

By Jack McLoone

While Canada's economy has been largely resilient, changes in areas like goods and services taxes and its research and development tax incentives could help protect against projected slowed growth brought on by its trade dispute with the U.S., the Organization for Economic Coooperation and Development said.

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EU Eyes Simplifying CBAM With Omnibus Measures

By Josh White

The Council of the European Union said Tuesday that it will push ahead with talks to simplify the carbon border adjustment mechanism as part of the EU's green policies.

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Suspected Ringleader Of €520M VAT Scheme Turns Self In

By Josh White

The suspected ringleader of a €520 million ($589 million) value-added tax fraud scheme that was under a cross-border investigation has turned himself in, law enforcement agencies said Tuesday.

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Novelist Facing FBAR Penalties Says She Relied On CPAs

By Natalie Olivo

A California-based Japanese novelist should not have to face $715,000 in penalties for unreported Swiss bank accounts, she told a federal court, contending that any nondisclosure was the result of an honest misunderstanding shared by her certified public accountants.

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Hong Kong, Maldives Reach Double-Tax Deal

By Jack McLoone

Hong Kong and the Maldives have agreed to a treaty to prevent double taxation that would come into force after being passed by their legislatures, Hong Kong's Inland Revenue Department said.

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Latin America, Caribbean Tax Revenues Fell In '23, OECD Says

By Jack McLoone

Tax revenues were down in the Latin American and Caribbean region in 2023, thanks largely to a decrease in economic activity in the area, with the average tax-to-GDP ratio for the region dipping below pre-COVID-19 levels, the Organization for Economic Cooperation and Development said Tuesday.

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