International

  • June 11, 2024

    Democratic Republic Of Congo Joins African Tax Coalition

    The Democratic Republic of the Congo has officially joined the African Tax Administration Forum as its 44th member, the group announced.

  • June 11, 2024

    Tory Tax Cut Plans Raise Questions On Funding Gaps

    The prime minister unveiled plans for £17.2 billion ($21.8 billion) in tax cuts at the launch of the Conservative Party's election manifesto on Tuesday, but a headline cut of two percentage points in the payroll tax was put off for three years — and funding plans left some experts unconvinced.

  • June 11, 2024

    French Tax Law Challenged On Free Movement Grounds

    The European Court of Justice is examining a French law regarding undeclared assets held outside the country to determine whether it is in line with the European Union's law respecting free movement of capital, the EU's official journal said.

  • June 11, 2024

    Sunak Pledges Further Tax Cuts In Election Manifesto

    Rishi Sunak said on Tuesday that his Conservative Party would establish a tax system that "rewards work" by slashing a range of levies if it wins the general election, including another cut in the national payroll tax by 2027.

  • June 10, 2024

    Canadian Gov't Proposes Capital Gains Tax Hike

    A new tax rate on capital gains realized annually above CA$250,000 ($181,700) by individuals and on all capital gains realized by Canadian corporations would go into effect this month under a proposal introduced by Canada's finance minister Monday.

  • June 10, 2024

    Big Tech Urges US Reprisal Over Canada's Impending DST

    The Office of the U.S. Trade Representative should open formal dispute proceedings with the Canadian government in response to a 3% digital services tax that is expected to soon pass in the Canadian Senate, business groups with members in the U.S. tech industry said Monday.

  • June 10, 2024

    UN Aims To Finish Drafting Tax Convention By Fall 2026

    The United Nations should aim to finish a framework convention on international tax cooperation and early protocols that address taxation of the digital economy, cross-border services and high-net-worth individuals by September 2026, according to draft terms of reference open for comment through June 21.

  • June 10, 2024

    3rd Prime Suspect Arrested In €50M Italian VAT Fraud Ring

    The Italian Financial Police arrested a third person suspected of leading a value-added tax fraud scheme involving sales of over 3 million Apple AirPods that caused an estimated €50 million ($54 million) in losses, the European Public Prosecutor's Office said Monday.

  • June 10, 2024

    Authorities Arrest Danish Suspect In €85M VAT Fraud In Kenya

    A Dane suspected of leading an €85 million ($91 million) value-added tax fraud ring was apprehended in Kenya after having fled Denmark late last year, the European Public Prosecutor's Office said Monday.

  • June 10, 2024

    Latvia Parliament Passes Parts Of Minimum Tax Directive

    Under pressure from the European Union, Latvia's Parliament approved a bill transposing portions of the bloc's directive to implement the Organization for Economic Cooperation and Development's Pillar Two standards to prevent tax base erosion and profit shifting.

  • June 10, 2024

    Singapore Seeks Opinions On OECD's Minimum Tax Plan

    Singapore is seeking public feedback on a proposal that would introduce the Organization for Economic Cooperation and Development's corporate global minimum tax, the country's Ministry of Finance said Monday.

  • June 10, 2024

    EU Commission Invites Experts To Anti-Tax-Evasion Forum

    The European Union's executive arm issued a call Monday for nongovernmental organizations to apply to join a platform that discusses measures against tax evasion and avoidance outside the bloc.

  • June 10, 2024

    EU Countries To Aim Again For VAT Deal, Agenda Says

    European Union countries will again discuss proposed changes to the bloc's value-added tax laws at a meeting next week, aiming to find a deal after one country blocked agreement, according to a meeting agenda.

  • June 10, 2024

    Lib Dems Vow To Raise Capital Gains Tax For UK's Wealthiest

    The U.K.'s third-largest political party vowed on Monday to raise taxes on the country's wealthiest individuals if it wins the next election, in a bid to raise £5 billion ($6.4 billion) for the National Health Service.

  • June 10, 2024

    What Tax Experts Hope To See In Labour's Manifesto

    Labour's policy manifesto, expected to be unveiled on Thursday, will be studied by tax lawyers for more detail on the fiscal planning being carried out by the clear favorite to win the general election, including a final word on lifetime pension savings.

  • June 07, 2024

    IRS Updates EV Battery Reporting Guide For Tax Credits

    The Internal Revenue Service provided updated guidance Friday for automakers planning to provide a report on meeting the battery sourcing requirements that can qualify their new electric vehicle models for the consumer tax credit of up to $7,500.

  • June 07, 2024

    NZ Sets Foreign Investment Interest Deemed Rate Of Return

    New Zealand has set the deemed rate of return for attributing interest on foreign investment funds — one of the ways to calculate income from such sources for tax purposes — at 8.63% for the 2023-24 income year, the country's revenue agency said.

  • June 07, 2024

    Dentons Adds Pair Of Husch Blackwell Tax Attys

    Two South Carolina tax attorneys have joined Dentons' corporate, tax and private client practice as partners after moving from Husch Blackwell LLP, the firm announced on Thursday.

  • June 07, 2024

    Halliburton Wrongly Denied $11.3M Deduction, Court Told

    The Internal Revenue Service is arbitrarily and wrongfully refusing to refund Halliburton over $11.3 million in tax deductions taken for a payment to a foreign government to secure the safety of the company's employees, Halliburton told a federal court.

  • June 07, 2024

    Chile Says Filing Restriction Program Stopped $203M In Fraud

    Chile's tax agency said Friday that its strategy for blocking value-added tax fraud via fraudulent invoices prevented the disbursement of 186 billion Chilean pesos ($203 million) of incorrect value-added tax credits since the start of 2023 through April 2024.

  • June 07, 2024

    Taxation With Representation: Vinson, Latham, Ropes & Gray

    In this Week's Taxation with Representation, Waste Management buys Stericycle, Becton Dickinson pays $4.2 billion for Edwards Lifesciences' critical care products unit, Aquiline Capital Partners raises over $3.4 billion in fund capital, and Bain Capital buys PowerSchool Holdings.

  • June 07, 2024

    Swiss Launch Consultation On Data Exchange Law

    The Swiss government said Friday that it has begun a consultation on a law concerning the international exchange of salary data, which it says is needed to support laws pertaining to the taxation of cross-border workers.  

  • June 07, 2024

    Tax Discriminates Against Risky Assets, Dutch Court Says

    The Netherlands must compensate investors for a tax on investment income that discriminates against riskier assets by using calculations of fictitious returns, the Dutch Supreme Court said.

  • June 06, 2024

    Medtronic Urges 8th Circ. To Back Its Transfer Pricing Method

    Medical device maker Medtronic reiterated Thursday its bid for the Eighth Circuit to revive its method for pricing intangible property that was licensed to a Puerto Rican affiliate, arguing the government's concessions show why the company's approach is more reliable.

  • June 06, 2024

    Oil Cos. Stifle Bids For Tax Transparency, SEC Letters Show

    At least three oil companies have stifled proposals initiated by the nonprofit Oxfam America for public country-by-country reporting of business activities, profits and taxes this year, according to letters from the U.S. Securities and Exchange Commission obtained by Law360.

Expert Analysis

  • Unpacking FinCEN's Proposed Real Estate Transaction Rule

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    Phil Jelsma and Ulrick Matsunaga at Crosbie Gliner take a close look at the Financial Crimes Enforcement Network's recently proposed rulemaking — which mandates new disclosures for professionals involved in all-cash real estate deals — and discuss best next steps for the broad range of businesses that could be affected.

  • Think Like A Lawyer: Forget Everything You Know About IRAC

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    The mode of legal reasoning most students learn in law school, often called “Issue, Rule, Application, Conclusion,” or IRAC, erroneously frames analysis as a separate, discrete step, resulting in disorganized briefs and untold obfuscation — but the fix is pretty simple, says Luke Andrews at Poole Huffman.

  • How New EU Tax And Transfer Pricing Rules May Affect M&A

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    Companies involved in mergers and acquisitions may need to adjust fiscal due diligence procedures to ensure they consider potential far-reaching effects of newly implemented transfer pricing measures, such as newly implemented global minimum tax and European Union anti-tax avoidance directives and proposals, says Patrick Tijhuis at BDO.

  • How Firms Can Ensure Associate Gender Parity Lasts

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    Among associates, women now outnumber men for the first time, but progress toward gender equality at the top of the legal profession remains glacially slow, and firms must implement time-tested solutions to ensure associates’ gender parity lasts throughout their careers, say Kelly Culhane and Nicole Joseph at Culhane Meadows.

  • 7 Common Myths About Lateral Partner Moves

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    As lateral recruiting remains a key factor for law firm growth, partners considering a lateral move should be aware of a few commonly held myths — some of which contain a kernel of truth, and some of which are flat out wrong, says Dave Maurer at Major Lindsey.

  • 6 Pointers For Attys To Build Trust, Credibility On Social Media

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    In an era of information overload, attorneys can use social media strategically — from making infographics to leveraging targeted advertising — to cut through the noise and establish a reputation among current and potential clients, says Marly Broudie at SocialEyes Communications.

  • US-Chile Tax Treaty May Encourage Cross-Border Investment

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    Provisions in the recently effective U.S.-Chile bilateral income tax treaty should encourage business between the two countries, as they reduce U.S. withholding tax on investment income for Chilean taxpayers, exempt certain U.S. taxpayers from Chilean capital gains tax, and clarify U.S. foreign tax credit rules, say attorneys at Kramer Levin.

  • A Post-Mortem Analysis Of Stroock's Demise

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    After the dissolution of 147-year-old firm Stroock late last year shook up the legal world, a post-mortem analysis of the data reveals a long list of warning signs preceding the firm’s collapse — and provides some insight into how other firms might avoid the same disastrous fate, says Craig Savitzky at Leopard Solutions.

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

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    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

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    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

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    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

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    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

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    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.

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