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IRS Empowered to Consider Corporate Group Membership in Intragroup Loan Interest Rates, Legal Memorandum Suggests
The Internal Revenue Service (IRS) in the United States may now consider a company's membership within a corporate group when determining...
Jan 4, 20242 min read
Global Minimum Tax: Unraveling the Historic Reform Impacting Multinationals and the World Economy
Effective January 1, a groundbreaking global tax reform has been enacted, representing a significant milestone in the quest for equitable...
Jan 3, 20243 min read
The European Tax Adviser Federation (ETAF), representing 215,000 regulated tax advisers, has raised concerns over the European Commission's proposed Transfer Pricing Directive
The European Tax Adviser Federation (ETAF), representing 215,000 regulated tax advisers, has raised concerns over the European...
Dec 22, 20232 min read
Brazilian lawmakers have given their approval to Constitutional Amendment Bill No. 45/2019
In a historic move, Brazilian lawmakers have given their approval to Constitutional Amendment Bill No. 45/2019, heralding the most...
Dec 21, 20232 min read
KPMG's Response to US Senators' Queries on Microsoft's Transfer Pricing Tactics Remains Uncertain
US Senators seeking clarification from KPMG regarding its alleged role in aiding large corporations, including Microsoft, in offshoring...
Dec 13, 20232 min read
Cyprus and France Ratify Updated Double Tax Treaty to Combat Double Taxation and Tax Avoidance
The Ministry of Finance announced on Monday that the Republic of Cyprus and France have ratified an updated double tax treaty, aimed at...
Dec 12, 20232 min read
US Companies Underpaid £5.6 Billion in UK Tax, HMRC Claims
HM Revenue and Customs (HMRC) alleges that US companies were responsible for nearly half of the underpaid tax by all foreign companies in...
Dec 11, 20232 min read
Former Freshfields Tax Chief Likely to be Found Guilty in Maple Bank Tax Fraud Case
Ulf Johannemann, the former global head of tax at Freshfields Bruckhaus Deringer, is likely to be found guilty of aiding and abetting tax...
Dec 6, 20232 min read
Vietnam's National Assembly Approves 15% Global Minimum Corporate Tax, Impacting Samsung and Others
In a recent development, Vietnam's National Assembly has given the green light to a 15% global minimum corporate tax, set to take effect...
Dec 5, 20231 min read
Indonesia's Comprehensive Strategy Against Tax Evasion: Global Engagement and Domestic Measures
Introduction In the evolving landscape of global finance, Indonesia has emerged as a formidable player in the fight against tax evasion....
Dec 4, 20235 min read
Tata Steel Triumphs in $12 Million Transfer Pricing Dispute Against India's Tax Authority
Tata Steel has achieved a notable triumph in a transfer pricing dispute against India's Income Tax Department, with the Mumbai branch of...
Dec 1, 20232 min read
UK Chancellor's Permanence of Major Corporate Tax Break Draws Praise from Experts and Businesses
In a pivotal move, UK Chancellor Jeremy Hunt's decision to permanently implement a significant corporate tax break, known as 'full...
Nov 24, 20232 min read
Brazil's Sports Betting Tax Breakthrough: 12% Rate Approved as Bill Heads to Crucial Senate Vote
In a significant development for the sports betting landscape in Brazil, the country's Economic Affairs Commission (CAE) has confirmed a...
Nov 24, 20232 min read
Apple's EU State Aid Challenge Faces Procedural Concerns Following Advocate General's Opinion
The opinion from the advocate general of the Court of Justice of the EU (CJEU), recommending the dismissal of Apple's €14.3 billion...
Nov 20, 20232 min read
Netherlands Honored by OECD for Efficient Resolution of Transfer Pricing Cases
In a recent accolade from the Organization for Economic Cooperation and Development (OECD), the Netherlands has been recognized for its...
Nov 17, 20232 min read
Indian Tax Tribunal Rules in Favor of BBC World (India) in Transfer Pricing Case
The Delhi bench of the Income Tax Appellate Tribunal in India has delivered a favorable ruling for BBC World (India) in a transfer...
Nov 16, 20232 min read
Former Telstra Chief John Mullen Takes Helm as Scyne Advisory Launches Amid PwC Breakaway
Scyne Advisory commenced its trading journey with the announcement of former Telstra executive John Mullen as its inaugural chairman on...
Nov 14, 20232 min read
EU Updates List of Non-Cooperative Countries for Tax Purposes: Implications for Cyprus Businesses
The European Council has recently made significant changes to the EU list of non-cooperative countries for tax purposes, impacting...
Nov 8, 20232 min read
EY UK Reports 20% Growth in Tax Revenues for 2023, Citing Increased Demand for Regulatory Advice
EY UK has reported robust growth in its tax revenues for the financial year ending June 30, 2023. The firm stated that it achieved strong...
Nov 2, 20232 min read
UN Tax Committee Initiates Discussion on Arm's-Length Principle for Two Key Industries
The United Nations Tax Committee has responded to calls from tax administrations in developing countries by introducing industry-specific...
Oct 30, 20233 min read
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