International
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May 16, 2025
Taxation With Representation: Blakes, Davies, Goodmans
In this week's Taxation With Representation, Charter Communications Inc. merges with Cox Communications, Hub International Ltd. boosts its valuation after securing an investment, Pan American Silver Corp. acquires Mag Silver Corp. and Robinhood buys WonderFi.
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May 16, 2025
Carbon Taxes Cut Emissions Best In Many Areas, OECD Says
Carbon taxes reduced greenhouse gas emissions from the energy sector, transportation, buildings and agriculture on average more effectively than most other climate policies in a large batch of studies reviewed by the Organization for Economic Cooperation and Development, the group said.
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May 15, 2025
UK To Codify Extensions For Cos. That End VAT Registration
HM Revenue & Customs will have a regulatory basis to grant businesses canceling their value-added tax registration extensions for submitting their final tax return documents under a new measure, codifying a practice it routinely carries out now through administrative concession.
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May 15, 2025
IRS Reopens Comment Period For Offshore Profit Regs
The Internal Revenue Service on Thursday reopened the comment period for proposed rules that would require U.S. multinational companies to create annual shareholder accounts and adhere to new pooling concepts to properly account for previously taxed earnings and profits.
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May 15, 2025
House Tax Bill's Foreign Rules May Finish Off Energy Perks
House Republicans' mammoth tax bill proposes phasing out two popular clean electricity business tax credits, but additional restrictions on eligible development projects' foreign business ties could have the same effect as immediately repealing them.
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May 15, 2025
Pillar Two Costs May Outweigh Revenue, Tax Exec Says
The administrative requirements for complying with an international minimum tax agreement known as Pillar Two could end up costing companies more than any taxes they pay under the global regime, a Microsoft tax executive said Thursday.
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May 15, 2025
House Plans Vote On Budget Bill With Tax Package Next Week
Republican leaders in the House plan to hold a vote next week on the chamber's budget bill that includes the GOP's $3.8 trillion tax package, with the aim of sending the legislation to the Senate before Memorial Day, Ways and Means Committee Chairman Jason Smith said Thursday.
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May 15, 2025
HMRC Fights To Keep £261M In Overseas Dividends Tax Battle
The British High Court was wrong to find BAT Industries PLC could have discovered that its tax payments on foreign dividends were made by mistake, HM Revenue & Customs told an appeals court Thursday, urging it to overturn the ruling.
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May 15, 2025
Texan Says IRS' $1M FBAR Penalty Unconstitutional
A Texan urged a federal court to dismiss the U.S. government's suit seeking to collect $1 million in penalties for unreported offshore bank accounts, arguing that the IRS' penalty assessment violated her constitutional right to a jury trial.
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May 15, 2025
China Calls For BRICS To Limit Trade Restrictions On US
China is willing to respond to U.S. tariffs jointly with BRICS, a group of 10 governments including Brazil, Russia and India, but is urging restraint on the use of trade restrictions for now, the country's Ministry of Commerce said.
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May 15, 2025
Ex-Solicitor Hit With 1st Individual Tax Avoidance Stop Notice
HM Revenue & Customs has ordered a struck-off solicitor to stop promoting two tax avoidance schemes, the first notice of its kind issued against an individual, the tax authority said Thursday.
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May 14, 2025
Lawmakers Line Up To Unwind Trump's 'Chaotic' IEEPA Tariffs
Nearly 150 members of Congress have thrown their support behind 12 state attorneys general suing to halt the Trump administration's "emergency" tariffs, arguing they far exceed the statutory authority of a president.
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May 14, 2025
House Panel To Fold $3.8T Tax Overhaul Into Budget Package
The House Budget Committee has scheduled a vote Friday on legislation that would combine the House Ways and Means Committee's $3.8 trillion tax bill with the work of other House committees as part of the fiscal 2025 budget reconciliation bill.
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May 14, 2025
Eversheds Sutherland Rehires Tax Expert From DLA Piper
Eversheds Sutherland is welcoming back a tax expert in the U.K. who spent the last seven years at DLA Piper, the firm announced.
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May 14, 2025
EU Wrong To Deny Dutch Tax Firm's Trademark, Court Says
A Dutch consultancy was wrongly denied a trademark for "Taxmarc" in the European Union after a German consultancy that controlled a trademark for "X Taxman" opposed its registration, the European General Court said Wednesday.
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May 21, 2025
BCLP Hires 2 Partners From Taylor Wessing, A&O Shearman
Bryan Cave Leighton Paisner LLP said Wednesday that it has recruited two new partners from Allen Overy Shearman Sterling and Taylor Wessing LLP to boost its finance and tax capabilities in London.
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May 13, 2025
House Panel Clears $3.8T Extension of 2017 Tax Overhaul Law
The House Ways and Means Committee voted along party lines early Wednesday to approve a $3.8 trillion tax bill that would make permanent many of the tax cuts for businesses and individuals enacted in President Donald Trump's first term.
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May 13, 2025
UK Crime Agency's Tax Penalties Upheld In Laundering Case
The U.K.'s National Crime Agency can collect £900,000 ($1.2 million) in tax and penalty assessments from a married couple on income the agency claims they gained through money laundering without proving there was an actual tax loss, the Upper Tribunal ruled.
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May 13, 2025
CarMax Says SC Failed To Justify Apportionment Change
South Carolina's tax agency did not prove that CarMax used intercompany transactions to distort an entity's business activity and its state tax burden, the company told an appeals court, arguing that the state was wrong to make CarMax use an alternative apportionment method.
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May 13, 2025
Trade Court Panel Looks Askance At Trump Tariff Justification
A U.S. Court of International Trade panel expressed skepticism Tuesday that the emergency law President Donald Trump is using to impose global tariffs left the determination of an "unusual and extraordinary threat" to be a political rather than legal question.
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May 13, 2025
UK E-Invoicing Adoption Calls For HMRC Effort, Group Says
If HM Revenue & Customs wants companies to broadly and voluntarily adopt e-invoicing measures, it needs to work on standardizing the software while also creating an incentive campaign, a group representing U.K. tax professionals said Tuesday.
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May 13, 2025
8th Circ. Urged To Enforce IRS Pricing Method On Medtronic
The U.S. Tax Court erred by tossing the IRS' suggested method to price royalties for intangible property licensed by medical device maker Medtronic to a Puerto Rican affiliate because its products differed from those of comparable uncontrolled companies, a government attorney told the Eighth Circuit on Tuesday.
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May 13, 2025
EU Council Agrees On Directive To Simplify VAT On Imports
The Council of the European Union said Tuesday that it reached an agreement on how to simplify value-added tax rules for selling imported goods in EU countries.
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May 12, 2025
Feds Say Tribal Tariff Dispute Must Stay In US Trade Court
The U.S. Department of Homeland Security is fighting Montana tribal members' attempt to stop the transfer of their lawsuit challenging President Donald Trump's Canada tariff orders from federal court to the U.S. Court of International Trade, saying the CIT has exclusive jurisdiction over the case.
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May 12, 2025
DC Judge Declines To Block IRS From Sharing Info With ICE
A D.C. federal judge rejected Monday a trio of immigration advocacy groups' request to block the Internal Revenue Service from sharing with immigration enforcement agencies the names and addresses of people suspected of being in the country illegally.
Expert Analysis
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Reading The Tea Leaves On Mexico, Canada And China Tariffs
It's still unclear whether the delay in the imposition of U.S. tariffs on Canadian and Mexican imports will result in negotiated resolutions or a full-on trade war, but the outcome may hinge on continuing negotiations and the Trump administration's possible plans for tariff revenues, say attorneys at Eversheds Sutherland.
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How Design Thinking Can Help Lawyers Find Purpose In Work
Lawyers everywhere are feeling overwhelmed amid mass government layoffs, increasing political instability and a justice system stretched to its limits — but a design-thinking framework can help attorneys navigate this uncertainty and find meaning in their work, say law professors at the University of Michigan.
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The Pros And Cons Of A 2nd Trump Term For UK Tech Sector
While U.S. President Donald Trump’s protectionist stance on trade could disrupt global supply chains on which many U.K. tech firms are reliant, anticipated deregulation could provide fertile ground for investment and growth, and the U.K. tech sector is bracing for a mix of opportunities, say lawyers at Shoosmiths.
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Corp. Transparency Act's Future Under Treasury's Bessent
The Corporate Transparency Act’s ultimate fate faced uncertain terms at the end of 2024, but new U.S. Department of the Treasury Secretary Scott Bessent's statements and actions so far demonstrate that he does not intend to ignore the law, though he may attempt to make modifications, say attorneys at Taylor English.
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A Look At A Possible Corporate Transparency Act Exemption
Attorneys at Kirkland offer a deep dive into the application of the Corporate Transparency Act's reporting requirements specifically to U.S.-domiciled co-issuers in typical collateralized loan obligation transactions, and consider whether such issuers may be able to assert an exemption from the CTA's reporting requirements.
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Inconsistent Injury-In-Fact Rules Hinder Federal Practice
A recent Third Circuit decision, contradicting a previous ruling about whether consumers of contaminated products have suffered an injury in fact, illustrates the deep confusion this U.S. Supreme Court standard creates among federal judges and practitioners, who deserve a simpler method of determining which cases have federal standing, says Eric Dwoskin at Dwoskin Wasdin.
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In-House Counsel Pointers For Preserving Atty-Client Privilege
Several recent rulings illustrate the challenges in-house counsel can face when attempting to preserve attorney-client privilege, but a few best practices can help safeguard communications and effectively assert the privilege in an increasingly scrutinized corporate environment, says Daniel Garrie at Law & Forensics.
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Lights, Camera, Ethics? TV Lawyers Tend To Set Bad Example
Though fictional movies and television shows portraying lawyers are fun to watch, Hollywood’s inaccurate depictions of legal ethics can desensitize attorneys to ethics violations and lead real-life clients to believe that good lawyers take a scorched-earth approach, says Nancy Rapoport at the University of Nevada, Las Vegas.
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Accountant-Owned Law Firms Could Blur Ethical Lines
KPMG’s recent application to open a legal practice in Arizona represents the first overture by an accounting firm to take advantage of the state’s relaxed law firm ownership rules, but enforcing and supervising the practice of law by nonattorneys could prove particularly challenging, says Seth Laver at Goldberg Segalla.
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AI Will Soon Transform The E-Discovery Industrial Complex
Todd Itami at Covington discusses how generative artificial intelligence will reshape the current e-discovery paradigm, replacing the blunt instrument of data handling with a laser scalpel of fully integrated enterprise solutions — after first making e-discovery processes technically and legally harder.
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Unpacking The Legal Foundation Of Trump's New Trade War
President Donald Trump's recent executive orders and proclamations regarding emergencies at the U.S. border are based on statutory powers enabling a president to address extraordinary external threats — and could be used to fend off legal challenges to the tariffs levied on Mexican and Canadian goods, says Chris Zona at Mandelbaum Barrett.
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When Innovation Overwhelms The Rule Of Law
In an era where technology is rapidly evolving and artificial intelligence is seemingly everywhere, it’s worth asking if the law — both substantive precedent and procedural rules — can keep up with the light speed of innovation, says Reuben Guttman at Guttman Buschner.
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Imagine The Possibilities Of Openly Autistic Lawyering
Andi Mazingo at Lumen Law, who was diagnosed with autism about midway through her career, discusses how the legal profession can create inclusive workplaces that empower openly autistic lawyers and enhance innovation, and how neurodivergent attorneys can navigate the challenges and opportunities that come with disclosing one’s diagnosis.