International
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March 27, 2025
Sweden Mulling Restrictions On Tax Regime For Foreign Cos.
Sweden is considering rules that would make it more difficult for foreign companies to be approved for a withholding exemption and expand its ability to revoke such approval as part of the fight against the criminal economy, the government said Thursday.
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March 27, 2025
Final APAs Dipped Slightly From 2023 Record High, IRS Says
The Internal Revenue Service finalized slightly fewer advance pricing agreements for U.S. multinational corporations in 2024 following a record high in the previous year, according to an agency report released Thursday.
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March 27, 2025
UK Industry Groups Raise Alarm Over US Tariff Threat
The Labour government must secure a trade deal with the U.S. government soon to prevent new tariffs hitting the British car industry in early April, industry groups warned Thursday.
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March 27, 2025
EU Parliament Group Pushes For Simplified Bloc Tax Code
The European Union's tax agenda should focus on reducing complexity and fragmentation across the bloc's 27 member states, according to a recent EU Parliament committee report, which recommended embracing coordinated policies.
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March 27, 2025
NFTC Keeps Pushing For Standardized Pillar 2 Reporting
The National Foreign Trade Council reiterated its request for the OECD to ensure a standardized approach to acquiring the cross-jurisdiction information required for Pillar Two global minimum tax returns, noting its members still have confidentiality concerns.
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March 27, 2025
Gov't Urged To Review State Pension Ahead Of Tax 'Cliff Edge'
The U.K. government must reform the state pension or face a "bizarre tax cliff edge" where benefits exceed personal allowance thresholds, experts warned.
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March 26, 2025
EU Import System Fails To Prevent VAT Fraud, Report Says
The European Union's simplified import customs procedures do not do enough to identify and prevent value-added tax fraud because of loopholes and inconsistencies, an EU watchdog said, also pointing out that various bloc members' oversight of such procedures was lacking.
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March 26, 2025
13 Arrested In Connection With €100M VAT Fraud Scheme
The Italian Financial Police arrested 13 people suspected of conducting a large-scale, complex criminal operation involving the sale of plastic products that resulted in the evasion of roughly €100 million ($107.5 million) in value-added taxes, the European Public Prosecutor's Office said.
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March 26, 2025
Ex-UBS North America CEO's $4.9M FBAR Deal Gets OK
The former North American CEO for Swiss bank UBS will pay a $4.9 million judgment under a deal approved by a Connecticut federal court Wednesday that resolves the U.S. government's suit alleging he willfully neglected to file foreign bank account reports with the IRS for a decade.
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March 26, 2025
Australian Budget Includes $11B In Personal Income Tax Cuts
The Australian Labor Party government released plans to further cut personal income taxes by 17.1 billion Australian dollars ($11 billion) over the next five years as part of cost-of-living relief provisions unveiled ahead of upcoming elections.
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March 26, 2025
UK Gov't Targets Tax Dodgers In Austerity Budget
The U.K.'s Labour government will expand its crackdown on tax avoidance and evasion to raise an extra £1 billion ($1.2 billion) in revenue, while it cuts welfare spending and boosts defense spending, the chancellor announced Wednesday in laying out its budget plans.
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March 26, 2025
Germany's Reunification Tax Surcharge Still Valid, Court Says
Germany's surcharge on income taxes aimed at financing the country's reunification in the 1990s remains a valid exercise of lawmakers' powers, the Federal Constitutional Court said Wednesday in striking down a challenge to the levy's continuing necessity and impact on private property.
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March 25, 2025
EU Wants Timeline For Blacklisted US Territories' Data Swaps
The European Union asked the U.S. to provide a concrete timeline for when it will set up a framework to begin automatic exchanges of information with three territories on the bloc's blacklist for uncooperative tax jurisdictions — the U.S. Virgin Islands, Guam and American Samoa — according to a letter released Tuesday.
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March 25, 2025
German Bankers To Face Cross-Border Tax Fraud Charges
A German appeals court revived first-of-their-kind charges against five bankers accused of a complex cross-border tax fraud scheme, sending the case back to a trial court, according to local news reports published Tuesday.
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March 25, 2025
Carlton Fields Adds Former Tax Law Professor In Atlanta
Carlton Fields has brought on a former tenured professor at Georgia State University College of Law to its team in Atlanta, strengthening its tax and business transactions practices with an attorney experienced in nonprofit law, tax and business matters, the firm announced Tuesday.
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March 25, 2025
Ex-Wife Of UK Activist Barred Over £319K Tax Debt
A U.K. political figure's former wife who owes about £319,000 ($413,000) in taxes has been disqualified from serving as a director of any business for the next seven years because of her failure to keep detailed financial records of her company, the U.K. Insolvency Service announced.
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March 25, 2025
EU Must Strengthen VAT Fraud Measures, Watchdog Says
The European Union needs to introduce measures to protect its single market from the risk of value-added tax fraud in imports since customs procedures were simplified, according to a report by the bloc's independent audit watchdog.
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March 24, 2025
McDermott Hires Skadden Partner To Lead London Tax Office
McDermott Will & Emery LLP announced Monday that it has chosen a former Skadden Arps Slate Meagher & Flom LLP partner to serve as the new leader of the firm's U.K. tax office in London.
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March 24, 2025
Burden Of Proof Is IRS' For $2.3M Bill, Kyocera Tells Tax Court
The Internal Revenue Service should bear the burden of proof in making adjustments to an amended return filed by electronics-maker Kyocera, the company argued as it urged the U.S. Tax Court to review an IRS notice saying the company owes $2.3 million for 2018.
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March 24, 2025
Caribbean Bank, CEO Accused Of Helping In £415M VAT Fraud
A Caribbean bank and its former CEO "knowingly" assisted in the commission of a £415 million ($536 million) value-added tax fraud, the creditors of a company allegedly linked to the scam said on the first day of a London trial Monday.
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March 24, 2025
TV Star Banned As Co. Director Over Failure To Pay £1M Tax
A U.K. reality television star has been banned as the director of his media company after it failed to pay more than £1 million ($1.3 million) in taxes, the government's insolvency agency said Monday.
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March 24, 2025
FinCEN Exempts US Businesses From Disclosure Rules
The U.S. Department of the Treasury's financial crimes unit issued interim final rules that exempt domestic businesses from contested reporting regulations, which the department had previously signaled it would narrow to include only foreign companies registered stateside.
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March 24, 2025
UK Gov't Considers DST Changes To Prevent US Tariffs
The Labour government may be considering changes to the digital services tax as part of talks with the U.S. administration to prevent tariffs being imposed on Britain, Chancellor of the Exchequer Rachel Reeves suggested in a TV interview.
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March 21, 2025
Court Sours On Tribunal's Sweets Ruling For Marshmallows
The First-tier Tribunal applied a faulty interpretation of value-added tax law to rule that jumbo-size marshmallows are exempt from VAT, a U.K. Court of Appeal panel said Friday, remanding the £473,000 ($611,000) dispute back to the tribunal.
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March 21, 2025
Ex-UBS North America CEO Agrees To $4.9M FBAR Judgment
The former North American CEO for Swiss bank UBS on Friday agreed to a $4.9 million judgment to end claims that he failed to file timely or accurate foreign bank account reports with the Internal Revenue Service between 2003 and 2013.
Expert Analysis
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Think Like A Lawyer: Dance The Legal Standard Two-Step
From rookie brief writers to Chief Justice John Roberts, lawyers should master the legal standard two-step — framing the governing standard at the outset, and clarifying why they meet that standard — which has benefits for both the drafter and reader, says Luke Andrews at Poole Huffman.
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Lead Like 'Ted Lasso' By Embracing Cognitive Diversity
The Apple TV+ series “Ted Lasso” aptly illustrates how embracing cognitive diversity can be a winning strategy for teams, providing a useful lesson for law firms, which can benefit significantly from fresh, diverse perspectives and collaborative problem-solving, says Paul Manuele at PR Manuele Consulting.
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Now More Than Ever, Lawyers Must Exhibit Professionalism
As society becomes increasingly fractured and workplace incivility is on the rise, attorneys must champion professionalism and lead by example, demonstrating how lawyers can respectfully disagree without being disagreeable, says Edward Casmere at Norton Rose.
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Reading Between The Lines Of Justices' Moore Ruling
The U.S. Supreme Court's recent Moore v. U.S. decision, that the Internal Revenue Code Section 965 did not violate the 16th Amendment, was narrowly tailored to minimally disrupt existing tax regimes, but the justices' various opinions leave the door open to future tax challenges and provide clues for what the battles may look like, say Caroline Ngo and Le Chen at McDermott.
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A Midyear Forecast: Tailwinds Expected For Atty Hourly Rates
Hourly rates for partners, associates and support staff continued to rise in the first half of this year, and this growth shows no signs of slowing for the rest of 2024 and into next year, driven in part by the return of mergers and acquisitions and the widespread adoption of artificial intelligence, says Chuck Chandler at Valeo Partners.
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States Should Loosen Law Firm Ownership Restrictions
Despite growing buzz, normalized nonlawyer ownership of law firms is a distant prospect, so the legal community should focus first on liberalizing state restrictions on attorney and firm purchases of practices, which would bolster succession planning and improve access to justice, says Michael Di Gennaro at The Law Practice Exchange.
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After Chevron: Uniform Tax Law Interpretation Not Guaranteed
The loss of Chevron deference will significantly alter the relationship between the IRS, courts and Congress when it comes to tax law, potentially precipitating more transparent rulemaking, but also provoking greater uncertainty due to variability in judicial interpretation, say Michelle Levin and Carneil Wilson at Dentons.
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Texas Ethics Opinion Flags Hazards Of Unauthorized Practice
The Texas Professional Ethics Committee's recently issued proposed opinion finding that in-house counsel providing legal services to the company's clients constitutes the unauthorized practice of law is a valuable clarification given that a UPL violation — a misdemeanor in most states — carries high stakes, say Hilary Gerzhoy and Julienne Pasichow at HWG.
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How To Clean Up Your Generative AI-Produced Legal Drafts
As law firms increasingly rely on generative artificial intelligence tools to produce legal text, attorneys should be on guard for the overuse of cohesive devices in initial drafts, and consider a few editing pointers to clean up AI’s repetitive and choppy outputs, says Ivy Grey at WordRake.
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Industry Self-Regulation Will Shine Post-Chevron
The U.S. Supreme Court's Loper decision will shape the contours of industry self-regulation in the years to come, providing opportunities for this often-misunderstood practice, says Eric Reicin at BBB National Programs.
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3 Ways Agencies Will Keep Making Law After Chevron
The U.S. Supreme Court clearly thinks it has done something big in overturning the Chevron precedent that had given deference to agencies' statutory interpretations, but regulated parties have to consider how agencies retain significant power to shape the law and its meaning, say attorneys at K&L Gates.
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Atty Well-Being Efforts Ignore Root Causes Of The Problem
The legal industry is engaged in a critical conversation about lawyers' mental health, but current attorney well-being programs primarily focus on helping lawyers cope with the stress of excessive workloads, instead of examining whether this work culture is even fundamentally compatible with lawyer well-being, says Jonathan Baum at Avenir Guild.
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Unpacking The Circuit Split Over A Federal Atty Fee Rule
Federal circuit courts that have addressed Rule 41(d) of the Federal Rules of Civil Procedure are split as to whether attorney fees are included as part of the costs of a previously dismissed action, so practitioners aiming to recover or avoid fees should tailor arguments to the appropriate court, says Joseph Myles and Lionel Lavenue at Finnegan.