International

  • November 22, 2024

    Taxation With Representation: Stradley Ronon, Davis Polk

    In this week's Taxation With Representation, Amcor PLC buys Berry Global Group Inc., AeroVironment buys BlueHalo, Robinhood Markets Inc. acquires TradePMR, and Comcast Corp. spins off a suite of NBCUniversal cable television networks.

  • November 22, 2024

    2 Convicted In €3.7M EU VAT Fraud Scheme

    A German court convicted two people for their roles in a value-added tax fraud scheme involving small electronic goods that caused an estimated €3.7 million ($3.86 million) in lost tax revenue, the European Public Prosecutor's Office said.

  • November 22, 2024

    Spain Raises Bank Windfall Levy, Enacts Minimum Tax

    The Spanish government is set to increase its windfall tax on banks with more than €5 billion ($5.2 billion) in income as well as implement a minimum corporate tax on multinational companies following a vote by lawmakers.

  • November 21, 2024

    EU Official Says GILTI Changes Could Nullify Pillar 2 Backstop

    The U.S. has an opportunity to shield multinationals from the Pillar Two 15% global minimum tax backstop rule in other jurisdictions by revising its tax on global intangible low-taxed income next year, a European Union tax official said Thursday.

  • November 21, 2024

    Australia Floats Paths For Adopting Crypto Disclosure Rules

    The Australian government floated two options Thursday for implementing a global crypto-asset reporting framework: adopt a standardized model or take a "bespoke approach" that would offer more flexibility but may also increase compliance costs.

  • November 21, 2024

    Breach Of VAT Rules Can Block €385K Refund, ECJ Rules

    Bulgarian tax authorities can deny a value-added tax refund of approximately €385,000 ($403,000) to a domestic company that did not have the tax itemized on invoices, the European Court of Justice ruled Thursday.

  • November 21, 2024

    6 Nations Must Improve Transparency Framework, OECD Says

    Six countries that have generally complied with global standards for exchanging financial information for tax purposes could nevertheless improve their mechanisms for accessing data about entity owners, according to reports released Thursday by the Organization for Economic Cooperation and Development.

  • November 21, 2024

    VAT Stays King Of Consumption Taxes Across OECD

    Value-added tax revenue continued to be the largest category of consumption taxes across the Organization for Economic Cooperation and Development in 2022, it said Thursday, generating an average of 20.8% of total revenue in 2022, a 0.1 percentage point increase.

  • November 21, 2024

    Tax Revenue Ratio Remained Steady In 2023, OECD Says

    The average tax-to-gross domestic product ratio across Organization for Economic Cooperation and Development countries remained relatively steady in 2023 compared with the year prior, the OECD said Thursday, even as they deal with challenges such as the increasing cost of living and climate change.

  • November 21, 2024

    Israel-Hamas War Tax Relief Needed More Notice, TIGTA Says

    While the Internal Revenue Service did well to proactively identify taxpayers likely affected by the Israel-Hamas war that it sought to grant tax relief, it failed to directly notify these taxpayers, the Treasury Inspector General for Tax Administration said Thursday.

  • November 21, 2024

    11th Circ. Asked To Rethink $100M Credit For John Hancock

    The Eleventh Circuit should reverse its decision allowing John Hancock Life Insurance Co. to keep $100 million in foreign tax credits that rightfully belong to the company's investors, trustees of a retirement plan said in arguing that the court overlooked a key U.S. Treasury regulation.

  • November 21, 2024

    Ryanair Threatens To Cut France Flights Over Ticket Tax

    Irish budget airline Ryanair warned it would suspend flights to and from 10 regional airports in France if the country goes through with its proposed tax on plane tickets, which would take effect in January.

  • November 20, 2024

    India's Top Court Allows Tax Credits For Excise Duties Paid

    Excise duties that India's mobile telecommunication providers pay when building the infrastructure for their networks — such as transmission towers — can be used as tax credits, the Supreme Court of India ruled Wednesday.

  • November 20, 2024

    NY Says Changes To Fed. Tax Return Reset Refund Timeline

    A couple living in Switzerland for part of each year timely filed their claim for overpaid New York state income taxes dating back to 2011 soon after winning double-taxation relief under the Swiss-U.S. tax treaty in 2018, the state's tax department said.

  • November 20, 2024

    NY Tax Withholding Not Needed For Foreign Board Member

    A New York company that appointed an Italian citizen to its board of directors does not have to withhold state income tax for payments made to that board member, the state's tax department said.

  • November 20, 2024

    Irish Social Democrats Run On Wealth Tax For Millionaires

    Ireland's Social Democrats are campaigning for this month's general election on a 0.5% tax on individuals' assets over €1 million ($1.1 million) — excluding homes, family businesses, art and pensions — and 1% for assets over €2 million, according to its manifesto.

  • November 20, 2024

    Israel Commits To OECD Crypto Information Swap Framework

    Israel committed to implementing the Organization for Economic Cooperation and Development's framework for automatically exchanging financial information regarding crypto-assets by 2027, the country's Ministry of Finance said Wednesday.

  • November 20, 2024

    UK Biz Owes Taxes On £200M Sale Of Lease, Court Affirms

    A U.K. property company owes tax on its intragroup purchase of a lease for a 50-story apartment tower in central London for £200 million ($253 million) despite its tax advisers' promise of a tax-free step-up in basis, the Upper Tribunal said Wednesday.

  • November 20, 2024

    Feds Again Seek Early Win In $11.6M Willful FBAR Dispute

    The U.S. government intends to renew its request to resolve a narrow matter in a dispute with an international businessman facing an $11.6 million penalty for willful failure to report his foreign bank accounts before the case heads to trial, according to a filing in Hawaii federal court.

  • November 20, 2024

    Data Centers Ineligible For Tax Breaks, UK Justices Affirm

    The U.K. Supreme Court dismissed a British developer's appeal Wednesday, ruling that HM Revenue & Customs was right to deny the company tax allowances it claimed on building two data centers in an enterprise zone.

  • November 20, 2024

    Switzerland To Expand Pillar 2 Minimum Tax Legislation

    The Swiss government announced Wednesday that it is expanding its legislation under an international minimum tax agreement known as Pillar Two to add a measure that will help bring in up to 3.5 billion Swiss francs ($4 billion).

  • November 20, 2024

    NY Resident Owes Tax On Bonuses For Work Out Of State

    A New York resident who lived out of the country until late 2018 owes state and New York City tax on bonuses and stock units that were paid in 2019 for work done in prior years, the state tax agency said.

  • November 19, 2024

    Turkish Tax Inspectors Target Alcohol Cos. For Evasion

    Turkish tax inspectors raided 100 addresses tied to alcohol businesses as part of an ongoing crackdown against suspected tax evasion by companies with 100 billion lira ($2.9 billion) in combined revenue, Turkey's Ministry of Treasury and Finance told state news media.

  • November 19, 2024

    G20 To Cooperate On Soft Law For Taxing Ultra-Wealthy

    Leaders of the world's largest economies intend to cooperate on taxing "ultra-high-net-worth individuals" through soft law approaches such as exchanging best practices and creating model policies that address tax avoidance, according to a Group of 20 Nations declaration.

  • November 19, 2024

    Liberty Global Tax Break Based On Void Moves, 10th Circ. Told

    The economic substance doctrine is broad and can invalidate telecommunications company Liberty Global's transaction that led to a $2.4 billion deduction because steps taken to maximize the tax break lacked business purpose, a government attorney told the Tenth Circuit on Tuesday.

Expert Analysis

  • SG's Office Is Case Study To Help Close Legal Gender Gap

    Author Photo

    As women continue to be underrepresented in the upper echelons of the legal profession, law firms could learn from the example set by the Office of the Solicitor General, where culture and workplace policies have helped foster greater gender equality, say attorneys at Ocean Tomo.

  • Reimagining Law Firm Culture To Break The Cycle Of Burnout

    Author Photo

    While attorney burnout remains a perennial issue in the legal profession, shifting post-pandemic expectations mean that law firms must adapt their office cultures to retain talent, say Kevin Henderson and Eric Pacifici at SMB Law Group.

  • Cayman Islands Off AML Risk Lists, Signaling Robust Controls

    Author Photo

    As a world-leading jurisdiction for securitization special purpose entities, the removal of the Cayman Islands from increased anti-money laundering monitoring lists is a significant milestone that will benefit new and existing financial services customers conducting business in the territory, say lawyers at Walkers Global.

  • The Legal Industry Needs A Cybersecurity Paradigm Shift

    Author Photo

    As law firms face ever-increasing risks of cyberattacks and ransomware incidents, the legal industry must implement robust cybersecurity measures and privacy-centric practices to preserve attorney-client privilege, safeguard client trust and uphold the profession’s integrity, says Ryan Paterson at Unplugged.

  • As Promised, IRS Is Coming For Crypto Tax Evaders

    Author Photo

    The IRS is fulfilling its promise to crack down on those who have neglected to pay taxes on cryptocurrency earnings, as demonstrated by recently imposed prison sentences, enforcement initiatives and meetings with international counterparts — suggesting a few key takeaways for taxpayer compliance, say attorneys at BakerHostetler.

  • 5 Reasons Associates Shouldn't Take A Job Just For Money

    Author Photo

    As a number of BigLaw firms increase salary scales for early-career attorneys, law students and lateral associates considering new job offers should weigh several key factors that may matter more than financial compensation, say Albert Tawil at Lateral Hub and Ruvin Levavi at Power Forward.

  • The Pop Culture Docket: Judge Djerassi On Super Bowl 52

    Author Photo

    Philadelphia Court of Common Pleas Judge Ramy Djerassi discusses how Super Bowl 52, in which the Philadelphia Eagles prevailed over the New England Patriots, provides an apt metaphor for alternative dispute resolution processes in commercial business cases.

  • Employee Experience Strategy Can Boost Law Firm Success

    Author Photo

    Amid continuing business uncertainty, law firms should consider adopting a holistic employee experience strategy — prioritizing consistency, targeting signature moments and leveraging measurement tools — to maximize productivity and profitability, says Haley Revel at Calibrate Consulting.

  • 6 Practice Pointers For Pro Bono Immigration Practice

    Author Photo

    An attorney taking on their first pro bono immigration matter may find the law and procedures beguiling, but understanding key deadlines, the significance of individual immigration judges' rules and specialized aspects of the practice can help avoid common missteps, says Steven Malm at Haynes Boone.

  • Lessons From Country Singer's Personal Service Saga

    Author Photo

    Recent reports that country singer Luke Combs won a judgment against a Florida woman who didn’t receive notice of the counterfeit suit against her should serve as a reminder for attorneys on best practices for effectuating service by electronic means, say attorneys at Jenner & Block.

  • 7 E-Discovery Predictions For 2024 And Beyond

    Author Photo

    The legal and technical issues of e-discovery now affect virtually every lawsuit, and in the year to come, practitioners can expect practices and policies to evolve in a number of ways, from the expanded use of relevancy redactions to mandated information security provisions in protective orders, say attorneys at Littler.

  • 5 Litigation Funding Trends To Note In 2024

    Author Photo

    Over the next year and beyond, litigation funding will continue to evolve in ways that affect attorneys and the larger litigation landscape, from the growth of a secondary market for funded claims, to rising interest rates restricting the availability of capital, says Jeffery Lula at GLS Capital.

  • 4 Legal Ethics Considerations For The New Year

    Author Photo

    As attorneys and clients reset for a new year, now is a good time to take a step back and review some core ethical issues that attorneys should keep front of mind in 2024, including approaching generative artificial intelligence with caution and care, and avoiding pitfalls in outside counsel guidelines, say attorneys at HWG.

Can't find the article you're looking for? Click here to search the Tax Authority International archive.