International
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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.
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January 24, 2025
Tax Break Doesn't Apply To £1.3M Project, UK Court Affirms
Investors who sank £1.3 million ($1.6 million) into a children's cartoon show will not qualify for a special tax break because the investment failed to meet at least one of the program's qualifications, the U.K.'s Upper Tribunal affirmed.
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January 24, 2025
Reed Smith Brings Back Tax Pro From Amazon In Brussels
An attorney who specializes in customs, trade and excise tax matters in the European Union and U.K. has rejoined Reed Smith LLP in Brussels after a stint at Amazon, the firm announced.
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January 24, 2025
Manchester United Ambassador Liable For Tax On £450K
An ambassador for the Manchester United Football Club is liable for additional taxes on about £450,000 ($562,000) paid by the club over 16 months, but he successfully appealed assessments on about £1.1 million received during several other years, according to a First-tier Tribunal decision.
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January 24, 2025
House Bill Would Repeal Stock Buyback Tax
The excise tax on stock buybacks would be repealed under legislation introduced in the U.S. House of Representatives.
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January 24, 2025
UK Gov't Launches Review Of HMRC Loan Charge
HM Treasury has launched a review into the U.K. tax authority's loan charge targeting individuals who incurred hefty tax bills after signing up for disguised remuneration schemes, a move critics claim has unfairly hit tens of thousands of contractors.
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January 24, 2025
Taxation With Representation: Latham, Simpson Thacher
In this week's Taxation With Representation, a Brookfield private real estate fund acquires Divvy Homes' property portfolio and platform, Kantar Group proposes the sale of Kantar Media, and an Ares Management-led group buys a majority of Form Technologies Inc.'s common equity.
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January 24, 2025
Australian Tax Transparency Rules Could Set Benchmark
Australian lawmakers recently enacted legislation that requires large multinational corporations to publicly disclose their worldwide business operations and tax information with an unprecedented level of scope and detail, which advocates say could set a global standard for corporate transparency.
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January 23, 2025
Taiwan Double-Tax Relief Floated In Senate After House OK
The Senate Finance Committee introduced bipartisan legislation Thursday that would grant tax benefits to Taiwanese businesses in the U.S. and authorize the White House to negotiate a tax agreement with Taiwan, following the House of Representatives' approval of companion legislation.
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January 23, 2025
Corporate Transparency Law Remains Flanked By Threats
The Corporate Transparency Act is facing threats across the branches of government despite the U.S. Supreme Court pausing a nationwide injunction on it Thursday, with another universal injunction in place, other court battles underway and some Republican lawmakers targeting the law.
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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.
Expert Analysis
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Unpacking The Proposed Production Tax Credit Regulations
Recently proposed tax regulations for claiming the U.S. clean-energy manufacturers' production credit under Internal Revenue Code Section 45X are less stringent than many had feared but fail to define a fundamental eligibility requirement, say Casey August and Jared Sanders at Morgan Lewis.
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10 Considerations For Litigating A New York Tax Case
While some of New York’s recently adopted corporate tax regulations are likely to face legal challenges, aggrieved taxpayers should answer certain questions before deciding to embark on the tax litigation process, say Cyavash Ahmadi and Jeffrey Friedman at Eversheds Sutherland.
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Law Firm Strategies For Successfully Navigating 2024 Trends
Though law firms face the dual challenge of external and internal pressures as they enter 2024, firms willing to pivot will be able to stand out by adapting to stakeholder needs and reimagining their infrastructure, says Shireen Hilal at Maior Consultants.
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Attorneys' Busiest Times Can Be Business Opportunities
Attorneys who resolve to grow their revenue and client base in 2024 should be careful not to abandon their goals when they get too busy with client work, because these periods of zero bandwidth can actually be a catalyst for future growth, says Amy Drysdale at Alchemy Consulting.
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How Attorneys Can Be More Efficient This Holiday Season
Attorneys should consider a few key tips to speed up their work during the holidays so they can join the festivities — from streamlining the document review process to creating similar folder structures, says Bennett Rawicki at Hilgers Graben.
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How Clients May Use AI To Monitor Attorneys
Excerpt from Practical Guidance
Artificial intelligence tools will increasingly enable clients to monitor and evaluate their counsel’s activities, so attorneys must clearly define the terms of engagement and likewise take advantage of the efficiencies offered by AI, says Ronald Levine at Herrick Feinstein.
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The Pop Culture Docket: Judge D'Emic On Moby Grape
The 1968 Moby Grape song "Murder in My Heart for the Judge" tells the tale of a fictional defendant treated with scorn by the judge, illustrating how much the legal system has evolved in the past 50 years, largely due to problem-solving courts and the principles of procedural justice, says Kings County Supreme Court Administrative Judge Matthew D'Emic.
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Breaking Down High Court's New Code Of Conduct
The U.S. Supreme Court recently adopted its first-ever code of conduct, and counsel will need to work closely with clients in navigating its provisions, from gift-giving to recusal bids, say Phillip Gordon and Mateo Forero at Holtzman Vogel.
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Legal Profession Gender Parity Requires Equal Parental Leave
To truly foster equity in the legal profession and to promote attorney retention, workplaces need to better support all parents, regardless of gender — starting by offering equal and robust parental leave to both birthing and non-birthing parents, says Ali Spindler at Irwin Fritchie.
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A Year-End Look At Florida's Capital Investment Tax Credit
Notwithstanding the Walt Disney Co.’s feud with Gov. Ron DeSantis this year, Florida's capital investment tax credit will continue to make the state a favored destination for large corporations, particularly in light of the new federal alternative minimum tax and the Pillar Two top-up tax, says Alan Lederman at Gunster.
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Understanding Discovery Obligations In Era Of Generative AI
Excerpt from Practical Guidance
Attorneys and businesses must adapt to the unique discovery challenges presented by generative artificial intelligence, such as chatbot content and prompts, while upholding the principles of fairness, transparency and compliance with legal obligations in federal civil litigation, say attorneys at King & Spalding.
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The Case For Post-Bar Clerk Training Programs At Law Firms
In today's competitive legal hiring market, an intentionally designed training program for law school graduates awaiting bar admission can be an effective way of creating a pipeline of qualified candidates, says Brent Daub at Gilson Daub.
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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.