International

  • June 13, 2024

    EU Scales Back Talks On Proposed Law To Combat Shell Cos.

    European Union countries have broadly agreed to work on a scaled-back legislative proposal to combat shell companies that would give each country more freedom to decide what anti-abuse action to take, an EU official said.

  • June 12, 2024

    Senate Budget Chair Seeks End To Carried Interest Tax Break

    Lawmakers should end the favorable tax treatment of income from carried interest compared with ordinary earned income, Senate Budget Committee Chairman Sheldon Whitehouse said Wednesday.

  • June 12, 2024

    Digital Taxes May Take Hold Regardless Of Treaty Signing

    An internationally agreed-upon freeze on digital levies may continue to thaw even if countries meet their impending deadline to sign a related treaty for new corporate tax rules, in part because the accord faces a hazy path to formal ratification.

  • June 12, 2024

    Feds Strike Deal Ending $7M FBAR Penalty Cases

    The U.S. government agreed to settle a pair of foreign bank account reporting cases in which it had sought a total of $7 million from a former insurance broker and his wife's estate, according to a court order filed Wednesday in California federal court.

  • June 12, 2024

    Groups Push Back On Stock Buyback Tax Test's Scope

    The U.S. Treasury Department's proposed stock buyback tax rules go too far in trying to assess whether the main purpose of a U.S. subsidiary's funding purchase of its foreign parent's stock is to avoid the tax, two groups said in comments released Wednesday.

  • June 12, 2024

    Aussie Senate's Final PwC Report Focuses On Integrity Recs

    Australia's Senate released its final report Wednesday regarding PwC's marketing of confidential draft tax laws to clients, pushing for both consulting firms and the government to assure that the firms, particularly the Big Four, act with integrity.

  • June 12, 2024

    Treasury Issued Over $1B In Clean Vehicle Tax Credits

    The clean vehicle tax credit of up to $7,500 has saved buyers more than $1 billion in total upfront costs since January, the U.S. Treasury Department announced Wednesday, saying the figures represent a major milestone in lowering transportation costs since the incentive was updated in 2022.

  • June 12, 2024

    Italy Investigating €13M VAT Fraud Involving Chinese Fabric

    An Italian judge issued a freezing order against four people and a company as investigations continue into a scheme involving the illegal importation of Chinese fabric that caused over €13 million ($14.1 million) in value-added tax losses, the European Public Prosecutor's Office said Wednesday.

  • June 12, 2024

    New Dutch Gov't Agrees On Top Finance Official

    The incoming right-wing Dutch government has agreed to appoint a conservative politician as finance minister and to maintain a separate position for the state secretary for taxation in order to comply with a recent Netherlands Supreme Court tax ruling on compensation to investors, Dutch media reported.

  • June 11, 2024

    US Issues Sanctions For $50M Guyana Gold Tax Evasion

    Two Guyanese businessmen and a Guyanese official were sanctioned by the U.S. Treasury Department on Tuesday after a probe into a corruption scheme that helped the businessmen evade $50 million in gold export taxes that should have been paid to Guyana's government, Treasury said.

  • June 11, 2024

    Latvia Renominates EU Trade Commissioner To Retain Role

    The Latvian government has renominated former Prime Minister Valdis Dombrovskis to retain his European Commission position as the commissioner for trade, the government announced Tuesday.

  • June 11, 2024

    Extension OK'd For Carbon Program Tax Exemption In Norway

    An extension of a program that makes certain carbon emissions tax-exempt for some Norwegian businesses was approved by an official watchdog group Tuesday.

  • June 11, 2024

    Compliance Costs Outweigh Min. Tax Gains, Biz Reps Say

    Multinational businesses are concerned that the burden of complying with the 15% global minimum tax outweighs any potential revenue gains associated with the burgeoning system, tax attorneys and a trade association representative said during a panel Tuesday.

  • June 11, 2024

    House Panel Chair Seeks To End Media Org's Tax Exemption

    The House's top tax writer wants the Internal Revenue Service to revoke the tax-exempt status of a nonprofit Mideast-focused news outlet, telling Commissioner Daniel Werfel that the organization is aiding Hamas.

  • June 11, 2024

    Lawmakers Urge Biden To Back Brazil's Int'l Wealth Tax Plan

    Sen. Bernie Sanders and Democratic lawmakers asked the Biden administration Tuesday to support the global minimum tax on billionaires being proposed by Brazil, which is encouraging the Group of 20 nations to endorse the initiative at its meetings next month.

  • June 11, 2024

    Kostelanetz Partners Talk Benefits Of Atlanta Tax Firm Tie-Up

    Kostelanetz LLP partners Bryan Skarlatos and Todd Welty discuss the firm’s recent combination with Atlanta boutique Welty PC.

  • 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.

Expert Analysis

  • What The Law Firm Of The Future Will Look Like

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    As the legal landscape shifts, it’s become increasingly clear that the BigLaw business model must adapt in four key ways to remain viable, from fostering workplace flexibility to embracing technology, say Kevin Henderson and Eric Pacifici at SMB Law Group.

  • 4 PR Pointers When Your Case Is In The News

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    Media coverage of new lawsuits exploded last year, demonstrating why defense attorneys should devise a public relations plan that complements their legal strategy, incorporating several objectives to balance ethical obligations and advocacy, say Nathan Burchfiel at Pinkston and Ryan June at Castañeda + Heidelman.

  • Unpacking The Proposed Production Tax Credit Regulations

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    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.

  • 10 Considerations For Litigating A New York Tax Case

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    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.

  • Law Firm Strategies For Successfully Navigating 2024 Trends

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    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.

  • Attorneys' Busiest Times Can Be Business Opportunities

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    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.

  • How Attorneys Can Be More Efficient This Holiday Season

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    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.

  • How Clients May Use AI To Monitor Attorneys

    Excerpt from Practical Guidance
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    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.

  • The Pop Culture Docket: Judge D'Emic On Moby Grape

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    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.

  • Breaking Down High Court's New Code Of Conduct

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    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.

  • Legal Profession Gender Parity Requires Equal Parental Leave

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    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.

  • A Year-End Look At Florida's Capital Investment Tax Credit

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    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.

  • Understanding Discovery Obligations In Era Of Generative AI

    Excerpt from Practical Guidance
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    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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