International

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3 Ways UK May Reshape Taxes In Budget

The U.K.'s Labour government is set to announce its fiscal agenda in its autumn budget Wednesday, and many experts predict higher taxes on banks and a crackdown on tax dodgers. Here, Law360 highlights three areas to watch for tax changes in the budget.

Sweden Set To Block EU Push To Raise Tobacco Tax Floors

Sweden is set to oppose a European Union bill that would raise minimum excise rates on tobacco products at a meeting between national finance ministers Nov. 9, an EU official told Law360 on Monday.

Harbor with yachts in foreground before hills peppered with houses in the background

Virgin Islands NIIT Exemption Should Stay Intact, Court Told

A former U.S. Virgin Islands resident urged a federal court Friday not to rethink its decision holding that locals are exempt from the net investment income tax, arguing it's too late for the territory's revenue collectors to raise new arguments.

October 27, 2026
Electrician Co. Can't Appeal £47K VAT Bill, Tribunal Says

An electrician company can't appeal a decision finding it liable for nearly £47,000 ($62,500) in value-added taxes on the grounds that a lower tribunal shouldn't have continued a remote hearing after its representative was disconnected, the Upper Tribunal said Tuesday.
October 27, 2026
Treasury Asked To Cut Ownership-Change Bar In CFC Regs

The U.S. Treasury Department should lower the ownership-change threshold in proposed rules for taxing shareholders of controlled foreign corporations based on their share of ownership during a given year, a business group and New York attorneys said.
October 27, 2026
Ex-IRS Officials Say Citizenship Question Could Chill Filing

Former Internal Revenue Service officials and tax law groups submitted a comment Tuesday urging the U.S. Department of the Treasury to remove a proposed citizenship status question from individual tax returns, saying it could discourage filing.
October 27, 2026
Former Company Director Can't Avert £283K Tax Bill On Loan

A former company director can't avoid nearly £283,000 ($377,000) in income tax on the unpaid balance of a loan despite it being written off, a London tribunal ruled, because the settlement with liquidators doesn't shield them from taxation.
October 27, 2026
Australia Floats Tax Breaks For Investors, R&D, Venture Firms

The Australian government wants to provide a 50% capital gains tax break for early investors in startups, widen parts of the research and development tax credit and expand venture capital tax incentives, Treasurer Jim Chalmers told lawmakers Tuesday.
October 27, 2026
Contractor Loses Appeal Bid Over £63K VAT Bill

A Northern Ireland scaffolding contractor lost its bid to appeal against a value-added tax assessment of £63,600 ($84,700) over whether Britain's tax authority broke its own deadline after a London tribunal ruled in a judgment published Tuesday that the tax authority needed more evidence.
October 27, 2026
Buyer Of Ex-Adgemis Bondi Hotel Ordered To Pay $6M

The Supreme Court of New South Wales has ordered the company that bought bankrupt publican Jon Adgemis' former Bondi Beach hotel to pay Vantage Point Asset Management Special Opportunities $6 million in damages for breaching a commitment to hand over a GST refund.
October 26, 2026
IRS Won't Defend Anti-Abuse Rule Invalidated By Tax Court

The IRS will no longer defend a rule designed to prevent companies from receiving tax-free dividends by exploiting a mismatch in effective dates between Tax Cuts and Jobs Act provisions after the U.S. Tax Court decided Congress hadn't granted authority to issue it, the agency said.
October 26, 2026
South Korea May Delay Crypto Tax Again, Report Says

South Korea's executive branch is looking at delaying plans to tax cryptocurrency for a fourth time, saying the U.S. government's slow-rolling of tax information exchanges has yielded a dearth of data on taxpayers using overseas platforms, the Korea Economic Daily reported.
October 26, 2026
EU Privacy Board Urged To Confirm Limits On Tax Data Swaps

The European Data Protection Board should confirm that its guidelines limiting large-scale, systematic data transfers will continue applying to automatic exchanges of tax information despite wording that could suggest otherwise in draft European Union legislation, the leader of a group representing "accidental" U.S. citizens said Monday.
October 26, 2026
Bank Surcharge Hike Could Raise £5.8B, Think Tank Says

The U.K.'s Labour government could raise £5.8 billion ($7.7 billion) by restoring the bank surcharge to 8% in the autumn budget, a think tank said Monday.
October 23, 2026
IRS Fights For Microcaptive Reporting Rules In 5th Circuit

The Fifth Circuit should restore a vacated regulation that required disclosure of certain microcaptive transactions due to the risk of tax avoidance and uphold another related rule that carried a lower penalty for reporting failures, the government said Friday, arguing against a plastics manufacturer fighting to eliminate both.
October 23, 2026
Taxation With Representation: Milbank, De Brauw, Wachtell

In this week's Taxation With Representation, EQT Private Equity announces a takeover offer for life sciences testing company Qiagen NV, Salesforce acquires customer engagement platform Braze and London Stock Exchange Group buys U.S. credit intelligence provider Octus.
October 23, 2026
Dutch Tax Treaty Policy Should Wait For Int'l Deal, NFTC Says

The Netherlands should not unilaterally change its tax treaty policy to allow countries to collect levies from remote corporations, the National Foreign Trade Council said Friday, urging the government to wait for countries to agree on new international norms.
October 23, 2026
German Court Convicts 2 In €200M VAT Fraud Scheme

Two individuals have been convicted in Germany for acting as members of a criminal organization to carry out a €200 million ($224 million) value-added tax fraud involving electronics, the European Public Prosecutor's Office said Friday.
October 23, 2026
EU Advances Biz Regime With Stock Option Tax Perk

European Union countries officially backed and suggested tweaks Friday to a proposal meant to boost entrepreneurship in the bloc, with their draft retaining an employee stock option tax provision that the EU executive asserted does not require unanimous support in the Council of the EU.
October 23, 2026
Ex-Solicitor Fails To Tie £432K Tax Bill To Managers

A retired solicitor who invested in a redevelopment scheme in Birmingham, England, lost his bid to recover more than £432,000 ($578,000) when a London court ruled he didn't show the scheme's managers were negligent by failing to preserve tax relief in the deal.
October 22, 2026
Dems Seek GAO Review Of $166B Tariff Refund Operation

Democratic lawmakers serving in the U.S. House and Senate asked for the Government Accountability Office to evaluate Customs and Border Protection's administration of a tariff refund system designed to repay importers the $166 billion in paid duties deemed unlawful earlier this year by the U.S. Supreme Court, according to a Thursday news release.
October 22, 2026
5th Circ. Orders New Look At IRS' Loss On FBAR Jury Rights

A Texas federal court must revisit its 2025 ruling that the IRS violated a woman's jury-trial rights by imposing a $1 million civil penalty for failing to report foreign bank accounts, the Fifth Circuit said, ordering another review in light of a U.S. Supreme Court decision.
October 22, 2026
UPS Waiting On Feds To Refund Tariff Costs, Court Told

An Atlanta federal court should, at minimum, pause a proposed class action looking to force UPS to reimburse customers for costs they incurred as the result of struck-down reciprocal tariffs, the shipping giant said, as the company itself is still waiting on refunds.
October 22, 2026
Foreign Tax Credit Sourcing Rule Likely By Year's End

The IRS hopes to propose regulations on sourcing certain inventory sales income for the foreign tax credit limitation under Internal Revenue Code Section 904 — one of the items listed on its priority guidance plan for 2026-2027 — by the end of the year, an agency official said.
October 22, 2026
OECD Says Agencies Should Help Monitor Tax Expenditures

Government departments responsible for policy goals linked to tax expenditures should share in the responsibilities of managing such measures, the OECD said Thursday.
October 22, 2026
Treasury Aiming to Float CAMT Rules by Feb., Official Says

The U.S. Treasury Department is still on track to propose revised regulations for the corporate alternative minimum tax by February, a department official said Thursday.
October 22, 2026
EU Windfall Tax On Energy Profits Legal, ECJ Adviser Says

A European Union windfall tax introduced in response to the energy crisis following the invasion of Ukraine is consistent with union law, an adviser to the EU's top court said Thursday, finding the measure urgent, temporary and proportionate.
October 22, 2026
UK Banks Face 46% Tax Rate, Outpacing Global Finance Hubs

The U.K. financial industry pays £47.8 billion ($63.9 billion) in taxes, with London banks facing a 46% tax rate, higher than financial hubs such as New York and Frankfurt, Germany, according to an industry group report.

Featured Stories

3 Ways UK May Reshape Taxes In Budget

Josh White

The U.K.'s Labour government is set to announce its fiscal agenda in its autumn budget Wednesday, and many experts predict higher taxes on banks and a crackdown on tax dodgers. Here, Law360 highlights three areas to watch for tax changes in the budget.
How The Midterms Are Likely To Shape Tax Policy

Natalie Olivo
Senior Tax Correspondent

While the outcome of the midterm elections won't change tax policy overnight, the winning party should at the very least have the chance to signal its priorities and work on bipartisan legislation that could become law even in a divided government. Here, Law360 breaks down different tax policy scenarios that could come from the elections.
EU Top Court Poised To Clarify Cross-Border Tax Rules

Eleanor Butler

The European Union's highest court is set to issue a ruling Thursday that's expected to provide clarity on whether authorities can deny a cross-border withholding tax exemption on the basis of tax abuse even when dividends are sent to a genuine parent company rather than a shell company.

Expert Analysis

Tariffs Could Be Behind Surge In FTZ Production Filings

As tariffs reshape production sourcing decisions, manufacturers are seeking foreign trade zone production authority at more than twice last year's pace, making it important to consider the potential duty and export benefits, along with review delays and restrictions that can curb savings, say attorneys at Sidley.
Transfer Pricing Analyses May Apply To Tariff Refunds Claims

Both plaintiffs and defendants in consumer class actions over tariff refunds should examine transfer pricing analyses, which can offer contemporaneous evidence as to how much of a tariff was borne in the U.S. by the importer or consumers rather than absorbed earlier in the supply chain, say economists at The Brattle Group.
Importer Risk Rises As AI Enters Trade Fraud Enforcement

The Trump administration's new data-driven and artificial intelligence-enabled push against tariff evasion raises the stakes for companies with global supply chains, making it crucial that they consider strengthening response protocols, documentation and internal reporting mechanisms, say attorneys at Cooley.
What Lawyers Should Know Before Accepting Crypto Payment

As clients increasingly request to pay legal fees, retainers and escrow funds using cryptocurrency, lawyers should consider how only a handful of state bar authorities have addressed the issue with varying ethics opinions, as well as the related questions that no authority has yet answered, says attorney Felix Shipkevich.
Why And How To Build A Neurodiversity-Informed Practice

By better understanding neurodiversity and implementing simple accommodations for clients with autism, ADHD or learning differences, attorneys can build stronger relationships with those who may otherwise struggle to obtain and benefit from legal services, while developing good habits that will benefit everyone they represent, says Ting Cheung at Sanford Heisler.
Why Importers Should Assess IEEPA Refund Claims Now

Businesses that wait for direction from U.S. Customs and Border Protection or the courts before seeking refunds of their finally liquidated International Economic Emergency Procedure Act duties in court may find them out of reach as the earliest potential limitation deadlines are approaching, says Samuel Finkelstein at LMD Trade Law.
AI Meeting Recaps Pose New Discovery And Privilege Risks

The New York City Bar Association’s recent ethics opinion, cautioning attorneys not to record nonclient conversations with artificial intelligence tools, reflects an emerging view that AI meeting recaps are now a distinct business record category, meaning counsel should set meeting-level controls and apply framework-level updates, says William Wright at Faegre Drinker.
Playing Bid Whist Makes Me A Better Lawyer

As a child, I viewed bid whist as a family tradition and a source of friendly card game competition, but as a lawyer, I see it as a tool that has helped me cultivate skills like communication, teamwork, risk assessment and composure, says Keyonn Pope at Riley Safer.
Md. Digital Tax Ruling Is A Road Map For Future Challenges

Three Maryland Tax Court rulings that recently struck down the state's digital advertising tax suggest constitutional and statutory vulnerabilities that could be used to challenge newly enacted digital services laws or legislation being considered by other states, say attorneys at Holland & Knight.
Calif. Bill Goes Too Far In Trying To Regulate Attorney AI Use

California’s first-in-the-nation act regulating how attorneys and arbitrators use generative artificial intelligence will likely soon become law, but read broadly, the provisions may dissuade lawyers from employing AI at all, thereby depriving them of key work tools, says Joshua Wurtzel at Schlam Stone.
Attorneys Using AI May Have Ethical Duty To Redact Docs

The trajectory of legal ethics guidance in recent years strongly suggests that as redaction technology becomes more accessible, the failure to use it when uploading highly confidential materials into artificial intelligence tools will become increasingly difficult to defend as reasonable, say attorneys at Lewis Brisbois.
Md. Court Got Ad Tax Similarity Analysis Wrong

Decisions striking Maryland’s digital advertising tax are fundamentally flawed because the Maryland Tax Court found similarity between digital ads and other ads without considering deep market distinctions, says Darien Shanske at UC Davis School of Law.
Taekwondo Makes Me A Better Lawyer

Taekwondo has taught me to recognize when to fight for a position and when to focus on finding a solution, and that the best outcomes are often achieved by solving problems — all of which has improved my work as a bankruptcy lawyer, mediator and Subchapter V trustee, says Amy Denton Mayer at Berger Singerman.