International

  • February 23, 2024

    VAT Refunds For Tax Errors Don't Require Interest, ECJ Rules

    European Union law does not require interest to be paid on value-added tax reimbursements if they are being made as a result of administrative errors or changes in tax calculations, the European Court of Justice determined.

  • February 23, 2024

    EU Prosecutors Request Extra €7.8M As Jurisdiction Grows

    The European Public Prosecutor's Office requested that the European Union grant it an extra €7.8 million ($8.4 million) for its 2024 budget with the coming expansion of its jurisdiction to Poland and potentially Sweden this year, the office said Friday.

  • February 23, 2024

    Bahamas Plans To Introduce Domestic Top-Up Tax By May

    The Bahamian government plans to introduce a proposal implementing one of the OECD's corporate global minimum tax mechanisms by May, which could generate more than $140 million a year in new revenue, the country's prime minister said.

  • February 23, 2024

    Pillar 1 Ratification Will Be Difficult, EU Official Says

    A top European Commission official said he expects participating jurisdictions to sign a convention to implement the OECD's Pillar One plan for reallocating taxing rights in June as planned, but he admitted that subsequent ratification of the treaty will be difficult.

  • February 23, 2024

    Taxation With Representation: Gibson Dunn, Wachtell

    In this week's Taxation with Representation, two asset managers invest in AITi Global, Chord Energy Corp. buys Enerplus Corp. and Truist sells an insurance subsidiary to an investor group led by private equity firms.

  • February 22, 2024

    Spain Allowed To Reclaim Illegal Aid Given To Ship Buyers

    Spain can reclaim the financial benefits given to beneficiaries of a tax scheme that gave illegal state aid to purchasers of ships built in Spanish shipyards, the European Union's General Court has ruled.

  • February 22, 2024

    Frankfurt Wins Bid For EU's New AML Center

    The European Union's new authority to fight money laundering and terrorist financing will be in Frankfurt, Germany, the European Commission announced Thursday.

  • February 22, 2024

    IRS Agent, Gov't Attys Immune From RICO Suit, Judge Says

    An Arizona federal judge dismissed a $15 million lawsuit against an Internal Revenue Service agent and two assistant U.S. attorneys brought by an investment adviser convicted of filing false tax returns, saying Thursday the government employees were immune from claims that included racketeering and malicious prosecution.

  • February 22, 2024

    NatWest Settles £60M VAT Fraud Case Ahead Of Retrial

    NatWest Markets PLC and liquidators for several defunct trading companies have settled a £60 million ($75.9 million) dispute over whether the bank is liable for a huge value-added tax fraud scheme ahead of a retrial.

  • February 22, 2024

    Tax Transparency Unearths €126B In Revenue, OECD Says

    The Organization for Economic Cooperation and Development's tax transparency programs are continuing to expand and helped identify €126 billion ($136.4 billion) in extra revenue from 2009 to 2022, including €41 billion in developing countries, the group's Global Forum said Thursday.

  • February 22, 2024

    Gang Jailed For 'Industrial Scale' Money Laundering Operation

    Four members of a gang that sent £26 million ($33 million) in dirty money to Dubai by depositing illegal cash at banks have been jailed for a combined 22 years, the U.K.'s tax authority said Thursday.

  • February 22, 2024

    Malta's Used Car Tax Breaches Law, Top EU Court Rules

    Malta is breaking EU law when it charges a higher annual tax for used cars bought in other countries in the bloc and brought to the island state, the European Court of Justice said in a judgment issued Thursday. 

  • February 22, 2024

    EU Parliament Committee Wants Transfer Pricing Law Sooner

    A committee of the European Parliament said Thursday that it wants proposed new transfer pricing rules to enter into force one year earlier than currently planned.

  • February 21, 2024

    Developing Countries Favor Majority Voting At UN Tax Group

    The United Nations General Assembly's simple majority voting rules should continue to apply in a steering committee to draft rules, procedures and possibly goals for a framework convention on global tax cooperation, although governments should still pursue consensus, diplomats from many developing countries said Wednesday.

  • February 21, 2024

    EU Commission Not Planning To Harmonize Plastic Taxes

    While some European Union member countries have implemented plastic waste taxes to fund a mandated EU budget contribution that is based on the volume of nonrecycled plastic packaging material, there is no current plan to harmonize these taxes, an EU official said.

  • February 21, 2024

    Dentons Adds Tax Partner From LCA For Milan Office

    Dentons has recruited a tax specialist from LCA to become a partner based in Milan, the firm announced Wednesday.

  • February 21, 2024

    3 Arrested In Suspected €70M Car VAT Fraud

    Three people were arrested in Germany in a suspected fraud scheme involving car sales that cheated authorities out of over €70 million ($75.7 million) in value-added tax, the European Public Prosecutor's Office said Wednesday.

  • February 21, 2024

    South Africa Moving Forward With Global Minimum Tax

    South Africa is seeking public input on a draft bill to implement the Organization for Economic Cooperation and Development's global corporate minimum tax rate, the country's finance minister announced Wednesday.

  • February 21, 2024

    EU Fund Leads To 70 Tax Overhauls In 27 Countries

    The 27 countries of the European Union have introduced 70 policy overhauls and 11 investment schemes in the tax area over the past three years, thanks to the EU's giant fund for economic recovery, the European Commission said Wednesday.

  • February 21, 2024

    IRS Seeks Comment On Taxable Substances List Additions

    The Internal Revenue Service asked for feedback Wednesday on the potential addition of two substances to the Internal Revenue Code's list of taxable substances.

  • February 21, 2024

    Swiss Senate Committee Rejects Tonnage Tax

    A committee of the upper house of the Swiss Parliament has dismissed a proposal to introduce a tonnage tax in the country, the Parliament has said in a statement.

  • February 20, 2024

    Wealthy Nations Want Consensus Voting At UN Tax Group

    The United Nations General Assembly's committee for drafting the rules and goals of an international tax convention should make decisions by consensus rather than following the assembly's simple majority voting rules, governments from wealthy countries said Tuesday.

  • February 20, 2024

    Japan, Ukraine Sign Double-Tax Treaty

    Japan and Ukraine signed a new convention to prevent double taxation and tax evasion, which would replace an old treaty between Japan and the Soviet Union, Japan's Ministry of Finance announced.

  • February 20, 2024

    Isle Of Man Floats Tax Hike As Bridge To Pillar 2 Adoption

    The Isle of Man's proposed 2024 budget would increase the income tax rate on banking businesses and large retailers whose profits would be subject to the Organization for Economic Cooperation and Development's global minimum tax, the island's treasury minister said Tuesday.

  • February 20, 2024

    Kirkland & Ellis Brings On Weil Tax Pros In NY, DC

    Kirkland & Ellis has recruited a pair of real estate tax partners from Weil Gotshal & Manges LLC who advised clients on a wide range of complex transactions, Kirkland announced Tuesday.

Featured Stories

  • Pillar 2 Could Clash With US Double-Dipping Loss Rules

    Natalie Olivo

    The Pillar Two international minimum tax agreement involves calculations that could trigger long-standing U.S. rules that are designed to prevent companies from what is known as double-dipping the same economic loss, raising questions about how upcoming regulations will navigate these two systems.

  • Swiss Seen Turning To Credits, Subsidies As Pillar 2 Begins

    Todd Buell

    Switzerland is expected to turn to the use of subsidies and tax credits to try to keep business in the country as its ability to compete on tax rates is curtailed by the introduction of the global minimum tax.

  • Lawmakers Brace For Lobbying Blitz On Expiring Tax Breaks

    Stephen K. Cooper

    Some lawmakers foresee an increase in lobbying activity this year as Congress considers renewing parts of the GOP's 2017 tax law that are approaching expiration, while efforts to address the influence of dark money in politics remain on hold.

Expert Analysis

  • 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 Investors

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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.

  • 5 Reasons Associates Shouldn't Take A Job Just For Money

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    As a number of BigLaw firms increase salary scales for early-career attorneys, law students and lateral associates considering new job offers should weigh several key factors that may matter more than financial compensation, say Albert Tawil at Lateral Hub and Ruvin Levavi at Power Forward.

  • The Pop Culture Docket: Judge Djerassi On Super Bowl 52

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    Philadelphia Court of Common Pleas Judge Ramy Djerassi discusses how Super Bowl 52, in which the Philadelphia Eagles prevailed over the New England Patriots, provides an apt metaphor for alternative dispute resolution processes in commercial business cases.

  • Employee Experience Strategy Can Boost Law Firm Success

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    Amid continuing business uncertainty, law firms should consider adopting a holistic employee experience strategy — prioritizing consistency, targeting signature moments and leveraging measurement tools — to maximize productivity and profitability, says Haley Revel at Calibrate Consulting.

  • 6 Practice Pointers For Pro Bono Immigration Practice

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    An attorney taking on their first pro bono immigration matter may find the law and procedures beguiling, but understanding key deadlines, the significance of individual immigration judges' rules and specialized aspects of the practice can help avoid common missteps, says Steven Malm at Haynes Boone.

  • Lessons From Country Singer's Personal Service Saga

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    Recent reports that country singer Luke Combs won a judgment against a Florida woman who didn’t receive notice of the counterfeit suit against her should serve as a reminder for attorneys on best practices for effectuating service by electronic means, say attorneys at Jenner & Block.