International

  • November 07, 2024

    G20 Beneficial Ownership Transparency Lacking, Group Says

    While Group of 20 nations are making progress on establishing beneficial ownership registers since committing to doing so a decade ago, a nonprofit dedicated to stopping corruption and promoting transparency said Thursday that there is still work to be done, including in countries that have yet to establish their registers.

  • November 07, 2024

    Gov't Gets Default In $4.9M Son-Of-Boss Case

    A federal judge entered a $4.9 million default against the estate of a Michigan man and his widow after having threatened to dismiss the case, in which the government says the couple avoided taxes by participating in a Son-of-Boss scheme.

  • November 07, 2024

    Aussie Pols Urge Barring PwC From Gov't Work For Now

    An Australian Parliamentary committee said Thursday that PwC should be temporarily barred from taking on government work while investigations into its tax document leak scandal continue, along with other recommendations.

  • November 07, 2024

    Trinidad And Tobago Joins OECD Tax Transparency Treaty

    Trinidad and Tobago formally joined the Organization for Economic Cooperation and Development's global tax transparency agreement on combating tax avoidance and evasion by multinational corporations, the OECD announced Thursday.

  • November 07, 2024

    EU Tax Nominee Says Bloc Could Go It Alone On Digital Tax

    The nominee to serve as the European Union's next tax commissioner said Thursday that the EU should seek its own solution to digital taxation if it can't keep the U.S. on its side following the elections this week.

  • November 07, 2024

    IRS To Hold Hearing On Dual Consolidated Loss Regs

    The Internal Revenue Service plans to hold a public hearing Nov. 22 on proposed regulations that outline when foreign taxes under the Pillar Two international minimum tax agreement could trigger U.S. rules that aim to prevent companies from double-dipping the same economic loss.

  • November 06, 2024

    Finance Committee Helm Awaits Crapo After GOP Wins Senate

    Idaho Republican Mike Crapo is expected to lead the Senate Finance Committee when Congress convenes next year, following President-elect Donald Trump's win Tuesday in the election that also handed Republicans control of the U.S. Senate for the first time since 2021.

  • November 06, 2024

    Portugal Implements Global Min. Tax After EU Pressure

    Portugal officially implemented the global corporate minimum tax spearheaded by the Organization for Economic Cooperation and Development following pressure from the European Union to join the majority of the bloc in doing so.

  • November 06, 2024

    EU Court Won't Toss Commission's Tax Clawback In Portugal

    A European Union court on Wednesday tossed two challenges to a European Commission ruling that Portugal must claw back tax breaks provided to companies with no local economic activity because that ran counter to commission-approved policies.

  • November 06, 2024

    Gov't Urges 11th Circ. To Rethink FBAR Excessive Fine Ruling

    The Eleventh Circuit should reconsider its decision that some of the $12.6 million in penalties the Internal Revenue Service imposed on a man for willfully failing to report his foreign bank accounts violated the Eighth Amendment's bar on excessive fines, the U.S. government said.

  • November 06, 2024

    Hedge Fund Lawyer Defends Signing Off On £1.4B Fraud Docs

    The former top lawyer at a hedge fund accused of defrauding Denmark's tax authority of £1.4 billion ($1.8 billion), who signed off on documents falsely confirming the trades were legitimate, told a London trial he didn't think it "was a big deal at the time."

  • November 06, 2024

    Improved Carbon Measuring Could Guide Taxes, OECD Says

    Measuring the carbon intensity of products can help countries design taxes to push toward emission-reduction goals, but countries need to work together to develop more accurate and specific measurements to make them more effective, the Organization for Economic Cooperation and Development said.

  • November 06, 2024

    UK Considering Tweaks To Global Minimum Tax

    The U.K. is looking at tweaks to its implementation of the OECD's global minimum tax on large multinational entities that HM Revenue & Customs said Wednesday will address concerns from stakeholders and bring it in line with updated guidance.

  • November 06, 2024

    UK VAT Collection Up £9B In 2023-24, A 6% Boost

    The U.K.'s value-added tax revenue increased to £169 billion ($218 billion) in financial year 2023-24, a 6% rise over the £160 billion generated the year prior, HM Revenue & Customs said Wednesday, despite a net drop in registered VAT entities.

  • November 06, 2024

    Rachel Reeves Calls Budget A 'Once In A Parliament' Reset   

    Chancellor Rachel Reeves told lawmakers on Wednesday that her inaugural budget in October was a "once in a Parliament" reset and that her government would not set out fiscal proposals of a similar scale again.

  • November 05, 2024

    Trump Victory Boosts GOP Push To Extend 2017 Tax Law

    Former President Donald Trump's projected reelection early Wednesday gave GOP lawmakers a strong boost in their efforts to renew major parts of the 2017 tax law that will expire next year, further dimming Democrats' hopes of promoting tax fairness by increasing rates on wealthy corporations and individuals.

  • November 05, 2024

    Trump Has Official Immunity. What About His Aides?

    Whether the U.S. Supreme Court's decision on presidential immunity extends to subordinates who follow a president's orders has become a more pressing question in the wake of Donald Trump's projected election win, according to legal experts.

  • November 05, 2024

    How Trump Can Quash His Criminal Cases

    Donald Trump's projected victory at the polls also translates to a win in the courts, as the second-term president will have the power to end both of his federal criminal cases. And the U.S. Supreme Court's decision on presidential immunity would shield him from any consequences for ordering his charges to be dismissed, experts say.

  • November 05, 2024

    An Early Look At Trump's Supreme Court Shortlist

    With former President Donald Trump projected to win the 2024 presidential election and the Republicans' success in securing the U.S. Senate majority, Trump may now get the chance to appoint two more justices to the U.S. Supreme Court, cementing the court's conservative tilt for decades to come.

  • November 05, 2024

    GOP's Senate Win Hands Future Of The Judiciary To Trump

    Republicans were projected to take back the White House and Senate and possibly the House early Wednesday, putting the GOP in position to back Donald Trump's agenda and his slate of young, conservative judicial nominees. 

  • November 05, 2024

    The Firms With An Inside Track To A New Trump Admin

    Law firms that have represented Donald Trump and the Republican Party on everything from personal legal woes to election-related lawsuits could see the risks of that work pay dividends as Trump is projected to secure a second term in office.

  • November 05, 2024

    $2.2B Reorg Of UK Group Was Tax-Driven, Tribunal Says

    An agricultural company's £1.7 billion ($2.2 billion) purchase of shares between subsidiaries was primarily conducted to avoid taxes, not to reorganize its U.K. business structure, based on the reactions of its officials to the transaction, the First-tier Tribunal said.

  • November 05, 2024

    HMRC Tells High Court It Can Tax Canadian Bank's Oil Income

    HM Revenue & Customs has the right to tax loan payments made to the Royal Bank of Canada relating to oil-drilling rights in the North Sea under the terms of a bilateral agreement, it told the British Supreme Court in the appeal of its case against the bank.

  • November 05, 2024

    Netflix Europe Offices Raided In Tax Fraud Probe

    French and Dutch authorities raided Netflix's offices in the two countries as part of an investigation into possible tax fraud by the streaming giant, news outlets reported Tuesday.

  • November 05, 2024

    Australia Clarifies Thin Capitalization Rules Interactions

    The Australian Taxation Office clarified that the country's new thin capitalization rules must be applied after both transfer pricing and debt deduction creation rules following amendments to the country's tax rules.

Expert Analysis

  • Finding Focus: Strategies For Attorneys With ADHD

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    Given the prevalence of ADHD among attorneys, it is imperative that the legal community gain a better understanding of how ADHD affects well-being, and that resources and strategies exist for attorneys with this disability to manage their symptoms and achieve success, say Casey Dixon at Dixon Life Coaching and Krista Larson at Stinson.

  • Attorneys, Law Schools Must Adapt To New Era Of Evidence

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    Technological advancements mean more direct evidence is being created than ever before, and attorneys as well as law schools must modify their methods to account for new challenges in how this evidence is collected and used to try cases, says Reuben Guttman at Guttman Buschner.

  • 1st Tax Easement Convictions Will Likely Embolden DOJ, IRS

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    After recent convictions in the first criminal tax fraud trial over allegedly abusive syndicated conservation easements, the IRS and U.S. Department of Justice will likely pursue other promoters for similar alleged conspiracies — though one acquittal may help attorneys better evaluate their clients' exposure, say Bill Curtis and Lauren DeSantis-Then at Polsinelli.

  • Tips For Litigating Against Pro Se Parties In Complex Disputes

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    Litigating against self-represented parties in complex cases can pose unique challenges for attorneys, but for the most part, it requires the same skills that are useful in other cases — from documenting everything to understanding one’s ethical duties, says Bryan Ketroser at Alto Litigation.

  • Anticipating Intensified Partnership Enforcement From IRS

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    The Internal Revenue Service's decadeslong difficulties with partnership audits led to the recent announcement of a clear, well-funded, focused initiative, and businesses operating in the partnership form will feel the impact, with definite changes ahead, says Sharon Katz-Pearlman at Greenberg Traurig.

  • Pro Bono Work Is Powerful Self-Help For Attorneys

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    Oct. 22-28 is Pro Bono Week, serving as a useful reminder that offering free legal help to the public can help attorneys expand their legal toolbox, forge community relationships and create human connections, despite the challenges of this kind of work, says Orlando Lopez at Culhane Meadows.

  • The Pop Culture Docket: Judge Espinosa On 'Lincoln Lawyer'

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    The murder trials in Netflix’s “The Lincoln Lawyer” illustrate the stark contrast between the ethical high ground that fosters and maintains the criminal justice system's integrity, and the ethical abyss that can undermine it, with an important reminder for all legal practitioners, say Judge Adam Espinosa and Andrew Howard at the Colorado 2nd Judicial District Court.

  • How And Why Your Firm Should Implement Fixed-Fee Billing

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    Amid rising burnout in the legal industry and client efforts to curtail spending, pivoting to a fixed-fee billing model may improve client-attorney relationships and offer lawyers financial, logistical and stress relief — while still maintaining profit margins, say Kevin Henderson and Eric Pacifici at SMB Law Group.

  • How Law Firms Can Use Account-Based Marketing Strategies

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    Amid several evolving legal industry trends, account-based marketing can help law firms uncover additional revenue-generating opportunities with existing clients, with key considerations ranging from data analytics to relationship building, say Jennifer Ramsey at stage LLC and consultant Gina Sponzilli.

  • Strategic Succession Planning At Law Firms Is Crucial

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    Senior partners' reluctance to retire, the rise of the nonequity partner tier and generational differences in expectations are all contributing to an increasing number of departures from BigLaw, making it imperative for firms to encourage retirement among senior ranks and provide clearer leadership pathways to junior attorneys, says Laura Leopard at Leopard Solutions.

  • Maximizing Law Firm Profitability In Uncertain Times

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    As threats of an economic downturn loom, firms can boost profits by embracing the power of bottom-line management and creating an ecosystem where strategic financial oversight and robust timekeeping practices meet evolved client relations, says Shireen Hilal at Maior Strategic Consulting.

  • 5th Circ. Ruling Reminds Attys That CBP Can Search Devices

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    The Fifth Circuit’s recent Malik v. Department of Homeland Security decision adds to the chorus of federal courts holding that border agents don’t need a warrant to search travelers’ electronic devices, so attorneys should consider certain special precautions to secure privileged information when reentering the U.S., says Jennifer Freel at Jackson Walker.

  • Enforcement Of International Tax Reporting Is Heating Up

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    Since the U.S. Supreme Court’s February decision in Bittner v. U.S. changed how penalties for failure to report offshore accounts are calculated, recent developments suggest the government is preparing to step up enforcement and vigorously pursue the collection of resulting penalties, say Daniel Silva and Agustin Ceballos at Buchalter.

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