International

  • August 28, 2024

    Sysco, IRS Asked To Address Varian's Foreign Dividend Win

    The U.S. Tax Court asked food services giant Sysco and the IRS to address how a tax dispute between them is affected by a recent ruling in a similar case that found medical device company Varian can claim a deduction for foreign dividends.

  • August 28, 2024

    Treasury To Require Reports On All-Cash Real Estate Deals

    Anyone who transfers real estate to a legal entity in an all-cash transaction, including attorneys, will be required starting Dec. 1, 2025, to inform the U.S. Treasury Department about that entity's beneficial owners and their identification numbers under a final rule issued Wednesday. 

  • August 28, 2024

    Greenberg Traurig Builds PE Team With Kirkland Hires

    Greenberg Traurig LLP has brought on two fund formation partners from Kirkland & Ellis LLP to continue its growth into the private equity space, according to an announcement this week by the firm.

  • August 28, 2024

    Taiwan Considering OECD's Global Minimum Tax

    Taiwan is looking to implement the Organization for Economic Cooperation and Development's 15% global corporate minimum tax on large multinational entities starting in 2026, the country's Ministry of Finance said Wednesday.

  • August 28, 2024

    Ireland May Add Timing Flexibility To Dividend Exemption

    The Irish government floated more timing flexibility for companies seeking to opt into the country's planned tax exemption for foreign-sourced earnings, but it declined to widen the system's geographical scope.

  • August 28, 2024

    Atty Can't Escape Danish Tax Agency's $2.1B Tax Fraud Suit

    An attorney in a $2.1 billion tax fraud case brought by the Danish tax authority cannot argue that a suit filed against him as an individual should be dismissed because it was filed late, a New York federal court ruled.

  • August 27, 2024

    Gov't Says Doctor Can't Escape Contempt Fine In FBAR Case

    A doctor challenging his $20,000 civil contempt fine for failing to follow a court order to repatriate money from his foreign bank account to cover $1.1 million in tax liabilities shouldn't be allowed to escape the penalty, the U.S. government argued Tuesday.

  • August 27, 2024

    Canadian Grocery Giant's Bank Wins Appeal Over Tax Credits

    The Tax Court of Canada incorrectly decided that a bank owned by the country's largest supermarket chain, Loblaw, couldn't claim tax credits aimed at exempting commercial purchases for payments the bank made in a customer rewards program, a Federal Court of Appeal panel ruled.

  • August 27, 2024

    OECD Says Malaysia Should Resume GST, End Fuel Subsidies

    With spending pressures rising, Malaysia should look to increase its tax revenues through measures including a reintroduction of its goods and services tax, as well as push to minimize its climate impact by eliminating fuel subsidies, the Organization for Economic Cooperation and Development said Tuesday.

  • August 27, 2024

    Treasury Asked To Scrap Stock Buyback Tax's Funding Rule

    Business groups urged the U.S. Treasury Department on Tuesday to remove what's known as the funding rule in forthcoming final regulations on the stock buyback tax, saying the provision would go beyond Congress' intentions for the levy, which aims to deter companies from giving outsize rewards to shareholders.

  • August 27, 2024

    Croatia, HK, Others Address Hurtful Tax Regimes, OECD Says

    Five tax jurisdictions, including Croatia and Hong Kong, have made progress to address various harmful tax practices, the Organization for Economic Cooperation and Development said Tuesday.

  • August 27, 2024

    Germany Proposes Investment Tax Changes To Attract VC

    Germany would adjust its tax laws in an attempt to better attract venture capital and investments into renewable energies under a proposal published Tuesday by the country's finance ministry as part of a planned "growth initiative."

  • August 27, 2024

    Starmer Warns Of 'Painful' Budget As UK Braces For Tax Hikes

    U.K. Prime Minister Keir Starmer warned Tuesday of "painful" decisions to plug budget gaps, including tax increases and spending cuts, looming in the Oct. 30 budget statement.

  • August 27, 2024

    Gov't Urged To Reform Pension Tax To Fill Budget Gaps

    The Labour government should reform £66 billion ($87 billion) worth of pension tax relief to raise extra revenue to help plug the black hole in public finances, a think tank affiliated to the party has said.

  • August 26, 2024

    Varian Entitled To Foreign Dividend Break, Tax Court Says

    California-based medical device company Varian Medical Systems is entitled to a deduction for dividends received from its foreign subsidiaries, the U.S. Tax Court ruled Monday in a unanimous opinion.

  • August 26, 2024

    US Should Extend Expiring TCJA Tax Cuts, Chamber Says

    The expiration of the 2017 Tax Cuts and Jobs Act in 2025 gives the next Congress an opportunity to pass pro-growth tax policies, the U.S. Chamber of Commerce said Monday.

  • August 26, 2024

    Kyocera's Gross-Up Doesn't Grant $143M Tax Break, US Says

    Electronics maker Kyocera cannot be allowed to take a $143 million tax deduction for distributions received under a 2017 tax law based on a separate statute's gross-up for paid foreign tax credits, the government told a South Carolina federal court.

  • August 26, 2024

    New Zealand Considers OECD Crypto Reporting Framework

    New Zealand would implement the Organization for Economic Cooperation and Development's framework for automatically exchanging financial information regarding crypto-assets under a proposal the country's revenue minister sent to its Legislature on Monday.

  • August 26, 2024

    Canada Planning 100% Surtax On Chinese EVs, 25% On Steel

    Canada plans to implement a 100% surtax on imported Chinese electric vehicles and a 25% surtax on Chinese steel and aluminum as part of a package intended to protect Canadian industry from unfair competition, the country's Department of Finance said Monday.

  • August 23, 2024

    Chamber Backs Doctor In Tax Court Economic Substance Suit

    The U.S. Chamber of Commerce lent its support to an eye doctor and his wife's U.S. Tax Court case disputing accuracy-related penalties that the Internal Revenue Service plans to impose on their microcaptive insurance arrangements for lacking economic substance.

  • August 23, 2024

    IRS Spinoff Guidance Sparks Worries About Short-Term Debt

    Companies that intend to give creditors equity tied to a spinoff transaction won't get early tax-free approval if the exchange involves recently acquired debt under IRS guidance that practitioners say draws an arbitrary line without accounting for ordinary business operations.

  • August 23, 2024

    Alvarez & Marsal Adds Transfer Pricing Expert From EY

    A former EY partner joined Alvarez & Marsal LLC to serve as managing director of its transfer pricing line of services in its New York office, the firm announced.

  • August 23, 2024

    45% Of US Biz Income Abroad In Tax Havens, Data Shows

    U.S. multinational corporations booked about 45% of their $1.33 trillion in net foreign income in 2022 in low-tax jurisdictions where around 1.7% of their employees are located, according to an analysis of data released Friday by the Bureau of Economic Analysis.

  • August 23, 2024

    German Official Backs Anti-Abuse Tax Rules Roll-Back Review

    A German Federal Ministry of Finance official agreed with tax experts' proposal to review the anti-abuse provisions of international tax law in order to potentially roll them back, especially with the global corporate minimum tax going into force across the European Union.

  • August 23, 2024

    Taxation With Representation: Latham, Wachtell, Paul Weiss

    In this week's Taxation With Representation, Arch Resources merges with Consol Energy in a deal worth $5.2 billion, Advanced Micro Devices agrees to purchase ZT Systems for $4.9 billion, and Japanese tobacco company JT Group inks a deal to buy Vector Group for $2.4 billion.

Expert Analysis

  • Cum-Ex Prosecutions Storm Shows No Sign Of Abating

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    The ongoing trial of Sanjay Shah in Denmark is a clear indicator that efforts remain focused on holding to account the alleged architects and beneficiaries of cum-ex trading, and with these prosecutions making their way across Europe, it is a more turbulent time now than ever, says Niall Hearty at Rahman Ravelli.

  • Practicing Law With Parkinson's Disease

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    This Parkinson’s Awareness Month, Adam Siegler at Greenberg Traurig discusses his experience working as a lawyer with Parkinson’s disease, sharing both lessons on how to cope with a diagnosis and advice for supporting colleagues who live with the disease.

  • Why Supreme Court Should Allow Repatriation Tax To Stand

    If the U.S. Supreme Court doesn't reject the taxpayers' misguided claims in Moore v. U.S. that the mandatory repatriation tax is unconstitutional, it could wreak havoc on our system of taxation and result in a catastrophic loss of revenue for the government, say Christina Mason and Theresa Balducci at Herrick Feinstein.

  • For Lawyers, Pessimism Should Be A Job Skill, Not A Life Skill

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    A pessimistic mindset allows attorneys to be effective advocates for their clients, but it can come with serious costs for their personal well-being, so it’s crucial to exercise strategies that produce flexible optimism and connect lawyers with their core values, says Krista Larson at Stinson.

  • Requiring Leave To File Amicus Briefs Is A Bad Idea

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    A proposal to amend the Federal Rules of Appellate Procedure that would require parties to get court permission before filing federal amicus briefs would eliminate the long-standing practice of consent filing and thereby make the process less open and democratic, says Lawrence Ebner at the Atlantic Legal Foundation and DRI Center.

  • 4 Ways To Motivate Junior Attorneys To Bring Their Best

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    As Gen Z and younger millennial attorneys increasingly express dissatisfaction with their work and head for the exits, the lawyers who manage them must understand and attend to their needs and priorities to boost engagement and increase retention, says Stacey Schwartz at Katten.

  • Former Minn. Chief Justice Instructs On Writing Better Briefs

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    Former Minnesota Supreme Court Chief Justice Lorie Gildea, now at Greenberg Traurig, offers strategies on writing more effective appellate briefs from her time on the bench.

  • Stay Interviews Are Key To Retaining Legal Talent

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    Even as the economy shifts and layoffs continue, law firms still want to retain their top attorneys, and so-called stay interviews — informal conversations with employees to identify potential issues before they lead to turnover — can be a crucial tool for improving retention and morale, say Tina Cohen Nicol and Kate Reder Sheikh at Major Lindsey.

  • Neb. Justices Should Weigh IRC Terms In Dividend Tax Case

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    Nebraska’s highest court, which will hear oral arguments in Precision CastParts v. Department of Revenue on April 1, should recognize that the Internal Revenue Code provides key clues to defining “dividends received or deemed to be received,” and therefore limits Nebraska’s tax on foreign-sourced corporate income, says Joseph Schmidt at Ryan.

  • Judicial Independence Is Imperative This Election Year

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    As the next election nears, the judges involved in the upcoming trials against former President Donald Trump increasingly face political pressures and threats of violence — revealing the urgent need to safeguard judicial independence and uphold the rule of law, says Benes Aldana at the National Judicial College.

  • Spartan Arbitration Tactics Against Well-Funded Opponents

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    Like the ancient Spartans who held off a numerically superior Persian army at the Battle of Thermopylae, trial attorneys and clients faced with arbitration against an opponent with a bigger war chest can take a strategic approach to create a pass to victory, say Kostas Katsiris and Benjamin Argyle at Venable.

  • What Recent Study Shows About AI's Promise For Legal Tasks

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    Amid both skepticism and excitement about the promise of generative artificial intelligence in legal contexts, the first randomized controlled trial studying its impact on basic lawyering tasks shows mixed but promising results, and underscores the need for attorneys to proactively engage with AI, says Daniel Schwarcz at University of Minnesota Law School.

  • How FinCEN Proposal Expands RE Transaction Obligations

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    Against a regulatory backdrop foreshadowing anti-money laundering efforts in the real estate sector, the Financial Crimes Enforcement Network's proposed rule significantly expands reporting requirements for certain nonfinanced residential real estate transfers and necessitates careful review, say attorneys at Fried Frank.

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