International

  • February 26, 2024

    Ala. Tax Tribunal Says Co. May Deduct Foreign Payments

    A global food-packaging manufacturer that made $76.6 million in interest payments to an American parent, which then in turn made payments to foreign affiliates, is eligible for deductions in Alabama for those payments, the state tax tribunal ruled Monday.

  • February 26, 2024

    Wealth Taxes Bring In Small Part Of G20 Revenue, Oxfam Says

    Roughly 8% of tax revenue collected by Group of 20 countries is raised from wealth taxes on average, compared with over 32% from taxes on goods and services, anti-poverty group Oxfam said Monday ahead of a G20 meeting in Brazil.

  • February 26, 2024

    NZ Opts Out Of OECD's Amount B Transfer Pricing Rules

    New Zealand is opting out of implementing the Organization for Economic Cooperation and Development's Amount B of Pillar One, a set of new streamlined transfer pricing rules, choosing to stick with its own standards instead.

  • February 26, 2024

    More Analysis Needed In Lithium Pricing Guide, Groups Say

    Functional analysis of multinational corporate groups should be included in a list of factors that could highly influence market prices within a transfer pricing framework for lithium, industry groups and accountants told the OECD in letters published Monday.

  • February 26, 2024

    Greece Seeks Input On Minimum Tax As Deadline Approaches

    Greece, one of the handful of European Union members that have yet to transpose the bloc's directive to implement the Organization for Economic Cooperation and Development's global minimum tax plan, is seeking public input on draft legislation to do so.

  • February 26, 2024

    EU Plans Tax Makeover To Boost Capital Market, Paper Says

    European Union finance ministers plan targeted adjustments of their tax systems to improve the financing of business, including revisions of corporate taxes, capital gains taxes and tax breaks for interest payments, a draft document obtained by Law360 on Monday said.

  • February 23, 2024

    UN Tax Pact May Need OECD Nations' Support, Diplomats Say

    The United Nations' global tax convention will likely require adoption by many advanced economies to address corporate tax abuse effectively, diplomats said, after countries resolved to pursue consensus over the long term but retain majority rule while drafting its terms of reference.

  • 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

    Pillar 2 Could Clash With US Double-Dipping Loss Rules

    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.

  • 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.

Expert Analysis

  • 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.

  • 7 E-Discovery Predictions For 2024 And Beyond

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    The legal and technical issues of e-discovery now affect virtually every lawsuit, and in the year to come, practitioners can expect practices and policies to evolve in a number of ways, from the expanded use of relevancy redactions to mandated information security provisions in protective orders, say attorneys at Littler.

  • 5 Litigation Funding Trends To Note In 2024

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    Over the next year and beyond, litigation funding will continue to evolve in ways that affect attorneys and the larger litigation landscape, from the growth of a secondary market for funded claims, to rising interest rates restricting the availability of capital, says Jeffery Lula at GLS Capital.

  • 4 Legal Ethics Considerations For The New Year

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    As attorneys and clients reset for a new year, now is a good time to take a step back and review some core ethical issues that attorneys should keep front of mind in 2024, including approaching generative artificial intelligence with caution and care, and avoiding pitfalls in outside counsel guidelines, say attorneys at HWG.

  • 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.

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