International
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January 23, 2025
Finland's Corporate Tax Revenue Dipped 8% Last Year
Finland's corporate tax take fell about 8% last year on an annual basis, although the government has a slight surplus overall with €81.7 billion ($85.1 million) in total revenues, the country's tax authority said Thursday.
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January 23, 2025
UK Gov't Tones Down Plan For Non-Dom Tax Changes
The U.K. government will amend its finance bill to soften its plan to abolish the nondomicile tax status for people claiming tax benefits as nonresidents, Exchequer Chancellor Rachel Reeves said in an interview broadcast Thursday.
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January 23, 2025
Australia Looking To Combine 3 Accounting Bodies
The Australian government asked for feedback Thursday on a plan to combine three accounting standards boards into one, with the goal of streamlining the country's financial reporting architecture to adapt to continued changes to the economy and reporting rules.
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January 23, 2025
Poland's €23M For Chemical Co. Clears EU State Aid Inquiry
The Polish government didn't break state aid law when it awarded €23 million ($23.9 million) to a chemical producer to open a production plant, the European Commission said Thursday.
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January 23, 2025
Gov't Floats Tweak To Pension Tax As £49M Returned
The government confirmed Thursday that it will close a controversial loophole that has resulted in retirees being overtaxed to the tune of £1.3 billion ($1.6 billion) over the past decade.
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January 22, 2025
Renewing TCJA Will Deepen Economic Divide, Oxfam Says
Renewing the Tax Cuts and Jobs Act would cost the U.S. more than $4.5 trillion in revenue that could be used to reduce economic inequality, nongovernmental organization Oxfam said in the release of its annual report on inequality.
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January 22, 2025
GOP Again Floats Reciprocal Taxes In Affront To Global Deal
Republicans on the House Ways and Means Committee on Wednesday renewed their proposal for reciprocal taxes against countries that participate in an international minimum tax agreement, following up on President Donald Trump's rejection of the global accord.
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January 22, 2025
Parliament Defends Report Alleging HMRC Has Poor Service
The chair of a United Kingdom parliamentary committee said Wednesday he was disappointed in HM Revenue & Customs rejection of an inquiry alleging the tax authority's customer service standards deteriorated to an all-time low in 2023 and 2024, arguing the agency approved reports that back up his findings.
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January 22, 2025
India Won't Apply Tax Treaty Abuse Provision Retroactively
An India tax agency said it won't retroactively apply an anti-abuse provision added to India's double-tax treaties with other countries by the nation's adoption of the Organization for Economic Cooperation and Development's multilateral convention on base erosion and profit shifting.
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January 22, 2025
UK Insurance Premium Tax Haul Up 10%, Hits Record £6.7B
The U.K. government raised a record £6.7 billion ($8.3 billion) in insurance premium tax in the first nine months of the financial year ending March, up 10% from the corresponding period a year earlier, according to HMRC figures released Wednesday.
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January 21, 2025
Parliamentary Panel Faults HMRC's Customer Service
HM Revenue & Customs is failing to deliver a good service to taxpayers, with its standards sliding even lower last tax year compared with the prior year, the U.K. Parliament's Public Accounts Committee said in a report published Tuesday.
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January 21, 2025
Detroit Council OKs $45K Settlement Over Holding Co.'s Gain
The city of Detroit approved a settlement Tuesday in the Michigan Tax Tribunal in a long-running tax assessment dispute stemming from a holding company's gain from selling stock in a Canadian tobacco testing company.
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January 21, 2025
Mexico Extends Tax Breaks To Domestic Taxpayers
Mexico is extending a number of tax breaks aimed at foreign companies to qualifying domestic taxpayers, such as the ability to reduce taxable income by immediately deducting investments in fixed assets through late 2030, according to a presidential decree Tuesday.
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January 21, 2025
Skadden Hires Tax Pro In London From Baker McKenzie
Skadden Arps Slate Meagher & Flom LLP has hired a former Baker McKenzie partner to serve in the firm's tax group in London.
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January 21, 2025
Expat Facing $6.9M In FBAR Penalties, Interest
An American woman living in Switzerland faces $6.9 million in penalties, interest and late fees because she did not report her accounts that were held at a Swiss bank, the U.S. government told a D.C. federal court.
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January 21, 2025
UK Waste Management Co. Denies Ties To £2.2M Tax Scam
A U.K. waste management company denied involvement in a scheme to reduce tax rates that put a business affiliate on the hook for £2.2 million ($2.7 million), contending that the affiliate failed to detect red flags.
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January 21, 2025
Sweden Considering Wind Turbine Property Tax Hike
Sweden is considering increasing the property tax on wind turbines to 0.5% of their assessed value from the current 0.2% starting in 2026, the country's Ministry of Finance said Tuesday.
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January 21, 2025
EU Officials Still Committed To Global Tax Deal Without US
The European Union remains committed to the global tax deal signed by over 130 countries in 2021 even after President Donald Trump announced the U.S. would no longer participate in the agreement, according to EU officials speaking in Brussels on Tuesday.
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January 21, 2025
Justices Decline To Review NY Tax On IBM, Disney Royalties
The U.S. Supreme Court declined Tuesday to hear claims from Disney and IBM that New York's former method of taxing royalty payments from foreign affiliates resulted in unconstitutional discrimination against interstate commerce.
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January 21, 2025
HMRC Wins Appeal In £197M BlueCrest Tax Battle
A London appeals court has sent a challenge by British-American hedge fund BlueCrest to a demand from HM Revenue and Customs for approximately £197 million ($242 million) in tax back to a lower tribunal for fresh consideration.
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January 17, 2025
Law360 Names Practice Groups Of The Year
Law360 would like to congratulate the winners of its Practice Groups of the Year awards for 2024, which honor the attorney teams behind litigation wins and significant transaction work that resonated throughout the legal industry this past year.
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January 17, 2025
Law360 Names Firms Of The Year
Eight law firms have earned spots as Law360's Firms of the Year, with 54 Practice Group of the Year awards among them, steering some of the largest deals of 2024 and securing high-profile litigation wins, including at the U.S. Supreme Court.
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January 20, 2025
Gov't Gets Mixed Reception On Inheritance Tax Pension Plans
Proposals by the U.K. government to bring pension assets within the scope of inheritance tax will result in "numerous problems" and raise concerns in their current form, a trade body and consultants warned on Monday.
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January 17, 2025
UK Parliament Calls New Treasury Unit 'Poorly Defined'
A new HM Treasury office set up to scrutinize fiscal policy lacks staff and its purpose is poorly defined, which means it could duplicate the work of other organizations, the U.K. Parliament's Treasury Select Committee said in a report Sunday.
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January 17, 2025
US Guidance On Amount B Carries Potential For Disputes
Recent IRS guidance on a simplified and streamlined transfer pricing method for certain cross-border transactions, known as Amount B, suggests rulemakers want feedback on how it would work if it were made mandatory, but that approach could lead to controversy without global cooperation.
Expert Analysis
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AI Can Help Lawyers Overcome The Programming Barrier
Legal professionals without programming expertise can use generative artificial intelligence to harness the power of automation and other technology solutions to streamline their work, without the steep learning curve traditionally associated with coding, says George Zalepa at Greenberg Traurig.
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Preparing Law Students For A New, AI-Assisted Legal World
As artificial intelligence rapidly transforms the legal landscape, law schools must integrate technology and curricula that address AI’s innate challenges — from ethics to data security — to help students stay ahead of the curve, say Daniel Garrie at Law & Forensics, Ryan Abbott at JAMS and Karen Silverman at Cantellus Group.
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General Counsel Need Data Literacy To Keep Up With AI
With the rise of accessible and powerful generative artificial intelligence solutions, it is imperative for general counsel to understand the use and application of data for myriad important activities, from evaluating the e-discovery process to monitoring compliance analytics and more, says Colin Levy at Malbek.
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Navigating Discovery Of Generative AI Information
As generative artificial intelligence tools become increasingly ubiquitous, companies must make sure to preserve generative AI data when there is reasonable expectation of litigation, and to include transcripts in litigation hold notices, as they may be relevant to discovery requests, say Nick Peterson and Corey Hauser at Wiley.
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Finding Focus: Strategies For Attorneys With ADHD
Given the prevalence of ADHD among attorneys, it is imperative that the legal community gain a better understanding of how ADHD affects well-being, and that resources and strategies exist for attorneys with this disability to manage their symptoms and achieve success, say Casey Dixon at Dixon Life Coaching and Krista Larson at Stinson.
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Attorneys, Law Schools Must Adapt To New Era Of Evidence
Technological advancements mean more direct evidence is being created than ever before, and attorneys as well as law schools must modify their methods to account for new challenges in how this evidence is collected and used to try cases, says Reuben Guttman at Guttman Buschner.
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1st Tax Easement Convictions Will Likely Embolden DOJ, IRS
After recent convictions in the first criminal tax fraud trial over allegedly abusive syndicated conservation easements, the IRS and U.S. Department of Justice will likely pursue other promoters for similar alleged conspiracies — though one acquittal may help attorneys better evaluate their clients' exposure, say Bill Curtis and Lauren DeSantis-Then at Polsinelli.
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Tips For Litigating Against Pro Se Parties In Complex Disputes
Litigating against self-represented parties in complex cases can pose unique challenges for attorneys, but for the most part, it requires the same skills that are useful in other cases — from documenting everything to understanding one’s ethical duties, says Bryan Ketroser at Alto Litigation.
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Anticipating Intensified Partnership Enforcement From IRS
The Internal Revenue Service's decadeslong difficulties with partnership audits led to the recent announcement of a clear, well-funded, focused initiative, and businesses operating in the partnership form will feel the impact, with definite changes ahead, says Sharon Katz-Pearlman at Greenberg Traurig.
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Pro Bono Work Is Powerful Self-Help For Attorneys
Oct. 22-28 is Pro Bono Week, serving as a useful reminder that offering free legal help to the public can help attorneys expand their legal toolbox, forge community relationships and create human connections, despite the challenges of this kind of work, says Orlando Lopez at Culhane Meadows.
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The Pop Culture Docket: Judge Espinosa On 'Lincoln Lawyer'
The murder trials in Netflix’s “The Lincoln Lawyer” illustrate the stark contrast between the ethical high ground that fosters and maintains the criminal justice system's integrity, and the ethical abyss that can undermine it, with an important reminder for all legal practitioners, say Judge Adam Espinosa and Andrew Howard at the Colorado 2nd Judicial District Court.
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How And Why Your Firm Should Implement Fixed-Fee Billing
Amid rising burnout in the legal industry and client efforts to curtail spending, pivoting to a fixed-fee billing model may improve client-attorney relationships and offer lawyers financial, logistical and stress relief — while still maintaining profit margins, say Kevin Henderson and Eric Pacifici at SMB Law Group.
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How Law Firms Can Use Account-Based Marketing Strategies
Amid several evolving legal industry trends, account-based marketing can help law firms uncover additional revenue-generating opportunities with existing clients, with key considerations ranging from data analytics to relationship building, say Jennifer Ramsey at stage LLC and consultant Gina Sponzilli.