International
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January 29, 2025
Tax Group Of The Year: Mayer Brown
Mayer Brown LLP's bench of tax talent is so deep that it can help its clients sell the Chicago Cubs one day and buy $646 million of Brazilian solar farms on another. The firm's ability to offer tax transaction and advisory services across industries, transaction types and specialty areas earned it a place among the 2024 Law360 Tax Groups of the Year.
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January 29, 2025
Lawyers, Ex-Tax Inspector Took £278M From Trust, Court Rules
A London appeals court has upheld a High Court ruling that two solicitors and a former senior tax manager devised a scheme to cut out beneficiaries from Jersey trusts in what they saw as a "huge commercial opportunity" to divert an estimated £278 million ($345 million) to themselves.
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January 29, 2025
Swiss Gov't Initiates Consultation On Pillar 2 Data Sharing
The Swiss government said Wednesday it has begun a consultation on approving a global framework for countries to exchange corporate taxpayer information under an international minimum tax agreement known as Pillar Two.
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January 29, 2025
EU Will Keep Minimum Tax Despite US, Commissioner Says
The European Union will maintain a 15% minimum corporate tax rate on large companies despite the U.S. government's opposition to the global tax deal, a European commissioner said Wednesday.
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January 29, 2025
HMRC Looking For Input On Pillar 2 Backstop Guidance
HM Revenue & Customs is looking for input on its guidance for how corporations would need to comply with the U.K.'s proposed adoption of the undertaxed profits rule, a backstop for its Pillar Two global minimum tax system.
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January 29, 2025
EU Tax Conduct Group Reelects Chair
The European Union's Code of Conduct Group reelected its chair for a second term to start next week, the Council of the EU said Wednesday.
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January 28, 2025
IRS Whistleblower Office Could Survive Trump Purge
As President Donald Trump pushes to slash federal spending and gut government agencies, the Internal Revenue Service Whistleblower Office may remain largely unscathed since its recent efforts to efficiently reward and protect those who report illicit tax activity could align with the administration's goals.
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January 28, 2025
Trump Pledges Tariffs On Semiconductors, Chips, Drugs
The U.S. will soon place tariffs on foreign-manufactured semiconductors, computer chips and pharmaceuticals in an effort to convince foreign companies to move their manufacturing operations stateside, President Donald Trump told House Republicans at a conference.
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January 28, 2025
OECD Details Documents Needed For Int'l Pricing Program
The Organization for Economic Cooperation and Development released more details Tuesday on the information that multinational entities must disclose when applying for the group's International Compliance Assurance Program, a multilateral effort to resolve transfer pricing issues.
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January 28, 2025
Ukrainian Duo Get 15 Years In $25M Tax Fraud Case
A Florida federal judge sentenced two Ukrainian men to 15 years in prison after they pled guilty to laundering money from a hotel staffing scheme that the U.S. government said cost it $25 million in taxes.
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January 28, 2025
Tax Group Of The Year: Cravath
Cravath Swaine & Moore LLP helped secure high-profile mergers and acquisitions for major media and communications companies in 2024, having played key roles in Paramount's $28 billion merger agreement with Skydance Media and a separate deal involving Verizon Communications, earning the law firm a spot among the 2024 Law360 Tax Groups of the Year.
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January 28, 2025
Argentina To Slash Car Sales Taxes, EV Tariffs
Argentina will zero out sales taxes on some cars and eliminate tariffs on low-cost electric and hybrid vehicles starting next week, the country's minister of economy said Tuesday.
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January 28, 2025
4 Convicted In Lithuania In €10M Cigarette Tax Fraud Ring
A Lithuanian court convicted four people, including two former customs officers, for their roles in a cigarette smuggling scheme that evaded €10 million ($10.4 million) in import, customs and excise taxes, the European Public Prosecutor's Office said Tuesday.
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January 28, 2025
France Probes Binance Over Money Laundering Breaches
France's public prosecutor on Tuesday opened a criminal investigation into crypto exchange Binance over suspected money laundering and terrorist financing breaches that authorities said may have enabled tax fraud and drug trafficking.
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January 28, 2025
EU Authorities Smash €100M Money Laundering Scheme
A group of more than 20 individuals suspected of running a €100 million ($104 million) money laundering scheme in Europe has been arrested following a two-year investigation by law enforcement authorities in Spain, Cyprus and Germany, an EU agency said Tuesday.
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January 27, 2025
Canadian Taxpayer Group Plans To Contest Capital Gains Hike
A Canadian taxpayers group said it plans to ask the nation's Federal Court to block a proposed increase in capital gains tax that is said has not been approved by the Canadian Parliament.
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January 27, 2025
HMRC Can Appeal In Dispute Over UK-Ireland Tax Agreement
HM Revenue & Customs can proceed with an appeal in its case alleging an Irish company's investment in a U.K.-based company was made to gain tax advantages, the Court of Appeal ruled Monday after hearing arguments.
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January 27, 2025
Senate Confirms Bessent As Treasury Secretary
A bipartisan majority of senators voted Monday to confirm billionaire hedge fund manager Scott Bessent as Treasury secretary, putting in place a key member of President Donald Trump's Cabinet.
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January 27, 2025
ITC Says China May Be Dumping Erythritol In US
The U.S. International Trade Commission has determined that there is a "reasonable indication" that imports of the artificial sweetener erythritol from China are damaging U.S. industry, it announced.
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January 27, 2025
Tesla Takes EU To Court Over Electric Vehicle Tariffs
Tesla is taking the European Union to court over anti-subsidy tariffs the bloc has imposed on imports of electric vehicles from China, Europe's top court confirmed on its website Monday.
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January 27, 2025
Transfer Pricing Brought In £1.8B In Tax Last Year, HMRC Says
U.K. transfer pricing activities brought in nearly £1.8 billion ($2.2 billion) in additional tax revenue in the 2023-24 tax year, HM Revenue & Customs said Monday, an over £150 million increase from the year prior despite a decrease in overall inquiries.
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January 27, 2025
Suspected Leader Of €297M VAT Fraud Indicted, EPPO Says
The suspected ringleader of a €297 million ($312 million) value-added tax fraud ring was indicted two months after the European Public Prosecutor's Office first broke up the scheme, the EPPO said Monday, saying he was indicted in record time for such a complex case.
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January 27, 2025
HMRC's Response To Phone Calls Hits Decade Low, Firm Says
HMRC answered half as many phone calls from taxpayers during the last tax year compared with 2015, with that figure reaching a decade low, a publicly traded British brokerage said Monday, citing documents the firm said it received in response to a Freedom of Information Act request.
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January 27, 2025
Mike Ashley Wins Data Request Battle With HMRC
HM Revenue and Customs wrongly withheld personal information from Mike Ashley after the founder of the Sports Direct chain issued a data request following the tax authority's demand for £13.6 million ($17 million) in additional taxes, a London court ruled Monday.
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January 24, 2025
Gov't Says Ukrainian Duo Should Get 15 Years For $25M Fraud
Prosecutors have asked a Florida federal court to sentence two Ukrainian men to 15½ years in prison after they pled guilty to laundering money from a hotel staffing scheme that the U.S. government said cost it $25 million in taxes.
Expert Analysis
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Deciding What Comes At The End Of WTO's Digital Tariff Ban
Companies that feel empowered by the World Trade Organization’s recent two-year extension of the ban on e-commerce tariffs should pay attention to current negotiations over what comes after the moratorium expires, as these agreements will define standards in international e-commerce for years to come, say Jan Walter, Hannes Sigurgeirsson and Kulsum Gulamhusein at Akin Gump.
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4 Ways To Refresh Your Law Firm's Marketing Strategy
With many BigLaw firms relying on an increasingly obsolete marketing approach that prioritizes stiff professionalism over authentic connection, adopting a few key communications strategies to better connect with today's clients and prospects can make all the difference, say Eric Pacifici and Kevin Henderson at SMB Law.
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This Earth Day, Consider How Your Firm Can Go Greener
As Earth Day approaches, law firms and attorneys should consider adopting more sustainable practices to reduce their carbon footprint — from minimizing single-use plastics to purchasing carbon offsets for air travel — which ultimately can also reduce costs for clients, say M’Lynn Phillips and Lisa Walters at IMS Legal Strategies.
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Cum-Ex Prosecutions Storm Shows No Sign Of Abating
The ongoing trial of Sanjay Shah in Denmark is a clear indicator that efforts remain focused on holding to account the alleged architects and beneficiaries of cum-ex trading, and with these prosecutions making their way across Europe, it is a more turbulent time now than ever, says Niall Hearty at Rahman Ravelli.
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Practicing Law With Parkinson's Disease
This Parkinson’s Awareness Month, Adam Siegler at Greenberg Traurig discusses his experience working as a lawyer with Parkinson’s disease, sharing both lessons on how to cope with a diagnosis and advice for supporting colleagues who live with the disease.
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Why Supreme Court Should Allow Repatriation Tax To Stand
If the U.S. Supreme Court doesn't reject the taxpayers' misguided claims in Moore v. U.S. that the mandatory repatriation tax is unconstitutional, it could wreak havoc on our system of taxation and result in a catastrophic loss of revenue for the government, say Christina Mason and Theresa Balducci at Herrick Feinstein.
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For Lawyers, Pessimism Should Be A Job Skill, Not A Life Skill
A pessimistic mindset allows attorneys to be effective advocates for their clients, but it can come with serious costs for their personal well-being, so it’s crucial to exercise strategies that produce flexible optimism and connect lawyers with their core values, says Krista Larson at Stinson.
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Requiring Leave To File Amicus Briefs Is A Bad Idea
A proposal to amend the Federal Rules of Appellate Procedure that would require parties to get court permission before filing federal amicus briefs would eliminate the long-standing practice of consent filing and thereby make the process less open and democratic, says Lawrence Ebner at the Atlantic Legal Foundation and DRI Center.
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4 Ways To Motivate Junior Attorneys To Bring Their Best
As Gen Z and younger millennial attorneys increasingly express dissatisfaction with their work and head for the exits, the lawyers who manage them must understand and attend to their needs and priorities to boost engagement and increase retention, says Stacey Schwartz at Katten.
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Former Minn. Chief Justice Instructs On Writing Better Briefs
Former Minnesota Supreme Court Chief Justice Lorie Gildea, now at Greenberg Traurig, offers strategies on writing more effective appellate briefs from her time on the bench.
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Stay Interviews Are Key To Retaining Legal Talent
Even as the economy shifts and layoffs continue, law firms still want to retain their top attorneys, and so-called stay interviews — informal conversations with employees to identify potential issues before they lead to turnover — can be a crucial tool for improving retention and morale, say Tina Cohen Nicol and Kate Reder Sheikh at Major Lindsey.
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Neb. Justices Should Weigh IRC Terms In Dividend Tax Case
Nebraska’s highest court, which will hear oral arguments in Precision CastParts v. Department of Revenue on April 1, should recognize that the Internal Revenue Code provides key clues to defining “dividends received or deemed to be received,” and therefore limits Nebraska’s tax on foreign-sourced corporate income, says Joseph Schmidt at Ryan.
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Judicial Independence Is Imperative This Election Year
As the next election nears, the judges involved in the upcoming trials against former President Donald Trump increasingly face political pressures and threats of violence — revealing the urgent need to safeguard judicial independence and uphold the rule of law, says Benes Aldana at the National Judicial College.