International
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June 16, 2025
Colombian Taxpayers Owe $34M In Foreign Exchange Debts
Nearly 290 Colombian taxpayers have accumulated roughly 142.2 billion Colombian pesos ($34.6 million) in unpaid tax debts related to their foreign exchange transactions, the country's tax authority said, offering possible reductions for their associated penalties.
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June 13, 2025
US-China Trade Talks Resume, Draw Mixed Reviews
Despite the promise of new trade talks held this week by the U.S. and China, the long-term strategic view of many companies remains concern over the obstacles they continue to face, especially if they must diversify supply chains that heavily rely on China.
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June 13, 2025
211K Suspicious Transaction Reports Filed In France In 2024
France's anti-money laundering unit received over 211,000 reports of suspicious financial transactions in 2024, making up the vast majority of the more than 215,000 reports received by the unit, an over 13% increase from the year prior, the country's finance ministry said Friday.
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June 13, 2025
Israeli Businessman Found Liable For $3.2M Over FBARs
An Israeli businessman who was held in contempt of court for dodging discovery requests is liable for $3.24 million in penalties and interest for willfully failing to report his foreign bank accounts, according to a Washington federal court.
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June 13, 2025
UK Businessman Defends Asset Transfer As Tax Strategy
A British businessman denied that he transferred a company to his son to defraud a creditor, arguing it was part of a long-term tax strategy rather than a tactic to avoid repaying £4.7 million ($6.4 million) in debt.
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June 13, 2025
Tax Credit Sales Would Be Difficult To Insure Under House Bill
House Republicans' sweeping budget bill proposes to promptly scale back the clean energy tax incentives established by the 2022 climate law, a move that would make it difficult for tax insurers to back project development deals that want to sell their tax credits for cash.
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June 13, 2025
Taxation With Representation: Debevoise, Latham, Paul Weiss
In this week's Taxation With Representation, Brown & Brown Inc. buys Accession Risk Management Group Inc., Allison Transmission Holdings Inc. acquires Dana Inc.'s off-highway unit, Qualcomm Inc. buys Alphawave IP, and Warner Bros. Discovery announced it will split into two publicly traded companies.
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June 13, 2025
Private Schools Lose Bid To Overturn VAT On Fees
The U.K. government has not breached human rights law by extending value-added tax to private school fees, the High Court ruled Friday, rejecting claims brought by a group of schools and families.
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June 12, 2025
Broader German Tax Base Key To Fiscal Growth, OECD Says
Germany should consider multiple avenues to broaden its tax base in the name of ensuring medium-term fiscal stability, the Organization for Economic Cooperation and Development recommended Thursday, saying such changes could also lead to lower labor taxation.
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June 12, 2025
China Agrees To Loosen Rare Earth Restrictions, US Says
Chinese trade negotiators have agreed to lift export controls on rare-earth elements in exchange for the U.S. walking back a campaign to revoke visas for Chinese students, according to statements by U.S. officials, which experts said leave key issues unresolved.
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June 12, 2025
UK Investors Sue Cricket Team Owner Over Claimed Tax Fraud
Three U.K.-based investors in an Indian Premier League cricket team are seeking £10 million ($13.6 million) in damages from the club's owner, claiming in a London court that he duped them over the tax implications of selling their shares in his business.
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June 12, 2025
Customs Missteps Don't Void VAT Exemption, ECJ Says
A horse owner can still claim a value-added tax exemption if she was merely negligent, rather than deceitful, in failing to declare her horses with Swedish customs officials, the European Court of Justice held Thursday.
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June 12, 2025
France Increased Tax Fraud Penalties By €1B In 2024
France's tax authority meted out €16.7 billion ($19.3 billion) in tax fraud duties and penalties in 2024, a €1 billion increase over the year prior, the head of the agency said Thursday.
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June 11, 2025
Russia Must Face $5B Yukos Award Suit, DC Judge Rules
At D.C. federal judge on Wednesday denied Russia's bid to nix litigation filed by the financing arm of Yukos Oil Co. to enforce a nearly $5 billion arbitral award, saying the Kremlin's jurisdictional objections fell short.
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June 11, 2025
US Consultant In France Must Pay $2M In FBAR Penalties
An American energy consultant residing in France must pay more than $2 million in penalties for purposely not disclosing foreign bank accounts that held more than $3 million, as opposed to the under $30,000 initially reported, a D.C. federal court ruled.
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June 11, 2025
House Budget Would Strong-Arm Foreign Gov'ts, Experts Say
The U.S. House-passed budget would discard the tax-exempt status of foreign governments and entities connected to them, such as sovereign wealth funds, and impose escalating tax rates if those countries employ fiscal policies that lawmakers consider unfair, according to several experts.
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June 11, 2025
Senate Dems' Bill Would Bar GILTI For 'Round-Tripped' Income
Income that is "round-tripped" to obtain tax advantages would become ineligible for the half-off corporate tax rate under the global intangible low-taxed income regime, based on a bill introduced Wednesday by Sen. Ron Wyden, D-Ore., and three other Senate Democrats.
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June 11, 2025
Trump Pick For IRS Chief Clears Key Senate Hurdle
President Donald Trump's nominee to serve as commissioner of the Internal Revenue Service survived a key procedural vote Wednesday in the Senate, setting the stage for the chamber to proceed with a final vote on his confirmation.
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June 11, 2025
37% Of Romania Cos. Fall Short On EU Reporting Standard
Almost 40% of businesses filing public country-by-country reports in Romania are failing to fully comply with the European Union's reporting standard, according to a report by a nonprofit organization.
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June 11, 2025
Peru Ratifies OECD Tax Treaty Standards
Peru ratified the Organization for Economic Cooperation and Development's multilateral convention on base erosion and profit shifting, which updates bilateral tax treaties of its signatories with agreed-upon standards, the OECD said Tuesday.
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June 10, 2025
UK Refiner Wins A Round In $200M EU Energy Tax Dispute
An international tribunal has ruled that a British oil refiner's claim challenging a €175 million ($200 million) windfall tax in Europe will proceed without bifurcation, concluding that jurisdictional objections lodged by Germany, Denmark and the European Union should be weighed concurrently with the merits.
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June 10, 2025
Yukos Says $5B Russia Award Suit Must Proceed
Yukos Oil Co.'s financing arm has told a D.C. federal court that a recent U.S. Supreme Court decision rejecting the Ninth Circuit's outlier interpretation of a jurisdictional question moots Russia's request that the court pause enforcement of a $5 billion arbitral award against the country.
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June 10, 2025
Mauritius Budget Proposal Includes Min. Tax, VAT On Digital
African island nation Mauritius is planning to adopt a portion of the OECD's global corporate minimum tax on large multinational entities starting next year and adjust its value-added tax regime to cover foreign digital services.
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June 10, 2025
Fed. Circ. Keeps Trump Tariffs In Place, Fast-Tracks Appeal
The Federal Circuit on Tuesday granted the federal government's bid to keep President Donald Trump's global tariffs in place while it appeals a U.S. Court of International Trade order striking them down on the grounds that they exceeded the president's authority.
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June 10, 2025
Sweden May Exempt Foreign Gov'ts From Dividend Tax
Sweden's Ministry of Finance is considering allowing certain foreign countries to be exempt from the obligation to pay withholding taxes on dividends from Swedish companies and funds following a federal court ruling.
Expert Analysis
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Former Minn. Chief Justice Instructs On Writing Better Briefs
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.
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Stay Interviews Are Key To Retaining Legal Talent
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.
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Neb. Justices Should Weigh IRC Terms In Dividend Tax Case
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.
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Judicial Independence Is Imperative This Election Year
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.
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Spartan Arbitration Tactics Against Well-Funded Opponents
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.
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What Recent Study Shows About AI's Promise For Legal Tasks
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.
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How FinCEN Proposal Expands RE Transaction Obligations
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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Litigation Inspiration: A Source Of Untapped Fulfillment
As increasing numbers of attorneys struggle with stress and mental health issues, business litigators can find protection against burnout by remembering their important role in society — because fulfillment in one’s work isn’t just reserved for public interest lawyers, say Bennett Rawicki and Peter Bigelow at Hilgers Graben.
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Unpacking FinCEN's Proposed Real Estate Transaction Rule
Phil Jelsma and Ulrick Matsunaga at Crosbie Gliner take a close look at the Financial Crimes Enforcement Network's recently proposed rulemaking — which mandates new disclosures for professionals involved in all-cash real estate deals — and discuss best next steps for the broad range of businesses that could be affected.
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Think Like A Lawyer: Forget Everything You Know About IRAC
The mode of legal reasoning most students learn in law school, often called “Issue, Rule, Application, Conclusion,” or IRAC, erroneously frames analysis as a separate, discrete step, resulting in disorganized briefs and untold obfuscation — but the fix is pretty simple, says Luke Andrews at Poole Huffman.
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How New EU Tax And Transfer Pricing Rules May Affect M&A
Companies involved in mergers and acquisitions may need to adjust fiscal due diligence procedures to ensure they consider potential far-reaching effects of newly implemented transfer pricing measures, such as newly implemented global minimum tax and European Union anti-tax avoidance directives and proposals, says Patrick Tijhuis at BDO.
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How Firms Can Ensure Associate Gender Parity Lasts
Among associates, women now outnumber men for the first time, but progress toward gender equality at the top of the legal profession remains glacially slow, and firms must implement time-tested solutions to ensure associates’ gender parity lasts throughout their careers, say Kelly Culhane and Nicole Joseph at Culhane Meadows.
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7 Common Myths About Lateral Partner Moves
As lateral recruiting remains a key factor for law firm growth, partners considering a lateral move should be aware of a few commonly held myths — some of which contain a kernel of truth, and some of which are flat out wrong, says Dave Maurer at Major Lindsey.